Condo Insurance Deductible Calculator

Condominium associations carry a master insurance policy that covers the building's common elements and, in many states, the units themselves up to the original construction standard. When a covered loss occurs — water intrusion, fire damage, hurricane damage — the association files a claim, but the master policy deductible is the association's financial responsibility before the insurer pays anything. That deductible must come from somewhere: the operating reserves, a special assessment, or a combination of both.

In most condominium associations, the master policy deductible is passed through to unit owners as a special assessment, allocated equally across all units or across the units affected by the claim. For whole-building losses, the deductible is typically divided equally. For localized damage — a plumbing leak affecting one floor, for example — some declarations allow the board to assess only the units involved, which reduces the denominator and increases each affected unit's share.

This calculator handles both scenarios. Enter the master policy deductible, the total unit count, and (for a partial claim) the number of units sharing the deductible. The result is each owner's per-unit share, with payment plan breakdowns. Note that actual allocation may vary depending on your declaration and the specific circumstances of the claim — always verify with your insurance counsel before issuing assessments.