Your condo association master policy can be one of two types: it can cover the appliances and fixtures in your condo, carpeting or flooring, plumbing, but exclude your personal property. This is sometimes referred to as an “all-inclusive” master policy. Or, your condo association master policy can be a “bare walls” master policy, which means it will not cover anything within your walls. This can sometimes include your condo’s systems, but sometimes it won’t. No matter which type your condo association master policy falls under, it will include coverage to common areas and the condo association’s liability.