Bill > HB1541

This bill mandates specific insurance requirements for residential condominium unit owners, establishing comprehensive guidelines for insurance coverage. The bill requires each unit owner to maintain a condominium unit owner insurance policy that includes specific provisions such as coverage for the council of unit owners' property insurance deductible, sufficient coverage to repair personal property and unit contents, loss of use coverage for at least 12 months, personal liability coverage of at least $500,000, loss assessment coverage of at least $25,000, and dwelling property coverage of at least $25,000 or the amount necessary to repair and replace unit-specific improvements. Unit owners must provide evidence of their insurance policy annually and upon request to the council of unit owners. If a unit owner fails to maintain the required insurance, the council of unit owners may acquire an insurance policy on their behalf and charge the premium as an assessment. The bill specifically applies to residential condominiums and does not cover detached unit condominiums, with the provisions set to take effect on October 1, 2025. Condominium bylaws may also require insurance coverage beyond these minimum requirements.

Government Affairs, Justice, Transportation and Infrastructure

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB1541?ys=2025RS