Bill > SB463

This bill modifies Maryland's condominium insurance regulations by increasing the maximum amount a unit owner is responsible for in the council of unit owners' property insurance deductible from $10,000 to $20,000 when damage originates from their specific unit. If the damage cause stems from common elements or events outside the condominium units, the entire deductible will be considered a common expense. The bill requires the council of unit owners to inform each unit owner annually in writing about their responsibility for the insurance deductible and its specific amount. Furthermore, any portion of the deductible exceeding the $20,000 unit owner responsibility will be treated as a common expense. The changes will apply to all property and casualty insurance policies for condominium councils of unit owners that are issued, delivered, or renewed on or after October 1, 2025, giving insurers and condominium associations time to adjust to the new regulations.

Justice

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/SB0463?ys=2025RS