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Bare Walls Coverage

Bare Walls Coverage

Definition

One of three approaches used for condominium insurance coverage. Under a "bare walls" approach, the condominium association insures only the bare structure of the individual condominium building; the structure, fixtures, and furnishings of collectively owned areas; and the collectively owned personal property of the association. Under this methodology, individual unit owners are responsible for insuring building property they own and use exclusively, such as sinks, built-in cabinets, appliances, flooring, and wallpaper (along with any improvements and betterments) in their individual units under the homeowners (HO) 6 or unit owners form. The other two methods to coordinate this coverage are the "single entity" coverage and the "all inclusive" coverage. The condominium association rules and covenants typically specify which approach is required.

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