---
title: Do we really need a master insurance policy or is homeowner's enough?
description: Getting a lender to approve the condo as this is simply a 2 unit property one side is a condo and the other side is a condo. Do we need master insurance policy of is homeowners HO6 enough?
---

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# [Do we really need a master insurance policy or is homeowner's enough?](https://www.condoassociation.com/blog/do-we-really-need-a-master-insurance-policy-or-is-homeowners-enough)

 Written by [CondoAssociation.com](https://www.condoassociation.com/blog/author/condoassociationcom) | Sun, May 12, 2019 @ 01:38 PM

I have a 2 to 4 unit question.  Getting a lender to approve the condo as this is simple 2 unit property; one side is a condo and the other side is a condo . The lender says you should have an HOA master insurance policy and then each individual would have HO6 - Walls in policy.  If the HOA has been disbanded  the lender said then the CCR's are the governing rules - the lender does not think or know if you can disband both an HOA and the CCR"s and just have each person have their own insurance -- Since it is titled as a condo - the CCR's are still required to be in place or you would need to make sure the insurance is suitable for all parties as you have a shared wall and common grounds.

So my questions is do we or should we have still have a master insurance policy in place ? If one is not in place because the HOA is no longer in place - then the CCR's are the governing rules - problem is the CCR's say only the HOA can change the terms -- so it is like a cat chasing its tale . What can I do on a 2 unit -- do I need to have both HOA and CCR's and reactivate the HOA or can I eliminate both and still be a condo and get the proper insurance coverage - those are the problems ?  Marysville Washington

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