Ind. Code § 27-7-18.7-5
Options for co-owners of a condominium to obtain property and casualty insurance coverage; continuing obligation of co-owners to provide coverage
Indiana · Indiana Code Title 27 — Insurance · Status: effective
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- Ind. Code § 27-7-18.7-5, Options for co-owners of a condominium to obtain property and casualty insurance coverage; continuing obligation of co-owners to provide coverage, Indiana, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1663713
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Full text
Sec. 5.
(a) This section applies to a condominium in which all of the condominium units:
(1) were designed and built for occupancy by not more than two (2) separate families; and
(2) contain not more than two (2) separate living quarters.
(b) Notwithstanding IC 32-25-8-9, the co-owners of a condominium described in subsection (a) may obtain property and casualty insurance coverage for the condominium units through one (1) of the following methods:
(1) By purchasing a master policy for property and casualty insurance.
(2) By allowing each co-owner to purchase property and casualty insurance on an individual basis.
(c) This section may not be construed to relieve the co-owners from any obligation under IC 32-25-8-9 to provide insurance coverage under a master policy for:
(1) the land on which the condominium is located;
(2) swimming pools and other recreational facilities; or
(3) any other parts of the condominium existing for common use.