Condo and renters insurance covers the part somebody else’s policy does not.
Both of these policies exist to fill a gap left by a document you did not write and probably have not read — an association master policy, or a landlord’s policy on the building. Cribb Insurance Group is appointed with Stillwater and places condominium and renters coverage for Arkansas households.
The short version
A condominium policy and a renters policy answer the same structural question from two directions: somebody else insures the building, and nothing about that arrangement protects what is yours or what you are responsible for.
The trap in both cases is the same. People assume the other policy reaches further than it does, and the discovery happens at the worst possible time. The fix is boring and effective — read the other document first, then buy the coverage that fits the actual gap.
You are insuring the gap, not the building.
Start from what somebody else already covers, and the rest of the decision gets much simpler.
If you own a condominium
The association carries a master policy on the building, funded by your dues. Your policy picks up what that master policy does not reach: the interior of your unit to whatever depth the master policy leaves off, your personal property, your personal liability, your additional living costs if the unit becomes unlivable, and assessments the association may levy against unit owners.
Which means the single most useful thing you can do before buying is get a copy of the master policy and the association declaration. Where the master policy stops is not a matter of opinion, and it is not the same at every association.
If you rent
Your landlord’s policy covers the building and the landlord’s interest in it. It covers nothing of yours, and it does not answer for you if you are responsible for harm to somebody else. That is not a landlord being difficult; it is what that policy is for.
A renters policy covers your belongings, your personal liability, and the additional cost of living somewhere else while the unit is repaired. That last one is the coverage renters most reliably forget and are most relieved to have.
Both policies also carry internal caps on certain categories — jewelry, firearms, some collectibles — that apply regardless of how much total contents coverage you bought. Scheduling exists to solve that, and it is a short conversation rather than a complicated one.
Where the master policy stops.
Condominium master policies are not standardized, and the difference between two common approaches changes what your own policy has to do.
- The broader approachSome master policies cover the unit as originally built, including fixtures and finishes inside it. Your policy then handles improvements you made, your personal property, your liability and your loss of use.
- The narrower approachOthers cover the structure only to a defined boundary, leaving interior surfaces, cabinetry, flooring and fixtures to the unit owner. The same loss produces a very different bill depending on which approach your association took.
- The association deductible is the quiet oneA master policy carries its own deductible, and it can be substantial. Depending on the governing documents, some or all of it can land on unit owners rather than on the association. That is not something the master policy summary usually advertises.
- Neither approach is wrongThey are different arrangements with different premiums, chosen by the association. The mistake is not the arrangement; it is buying a unit-owner policy without knowing which arrangement you are sitting inside.
Send us the master policy and the declaration with your quote request. We would rather read them than guess, and reading them is the difference between a policy that fits and a policy that looked fine.
Loss assessment is the one that catches people.
This is the most consequential thing on a condominium policy that never appears in a quote comparison, because comparisons are built from the coverages people know to ask about.
What happens when the association sends every owner a bill
Condominium ownership carries an exposure that has no equivalent in a single-family house: the association can assess unit owners for a shortfall. It happens when a loss to the common areas exceeds what the master policy pays, when the master policy’s own deductible has to be funded, or when the association faces a liability claim arising somewhere on the property that has nothing to do with your unit.
The mechanics are worth sitting with for a second, because they are counterintuitive. You can do everything right, have a loss-free unit, never file a claim, and still receive a bill — because the assessment is generated by the association’s circumstances rather than by yours. It is the one homeowner exposure where your own conduct is not the deciding factor.
Loss assessment coverage is the part of a unit-owner policy built to respond to exactly this. It is normally present with a modest limit and it can normally be increased. And here is the part that makes it a decision rather than a formality: the appropriate amount is not a function of your unit at all. It is a function of the association — how many units share the burden, the condition and value of the common areas, and what the governing documents say about who funds the master deductible.
So the useful questions are ones a quote screen will never ask you. How many units are in the association. What the master policy deductible is. Whether the declaration passes that deductible through to owners. Whether the association has assessed before. We ask them because the answers change what this coverage ought to be, and because nobody wants to learn the answer by mail.
General information about how condominium policies and association documents commonly work. Coverage, limits and availability vary by policy and by association; the policy language and your governing documents control.
What these policies are not.
The neighbors, not the gaps. Expecting either policy to reach one of these is the source of most of the disappointment.
Not the building itself
The structure belongs to the association’s master policy or to the landlord’s policy. Neither of those is yours, and neither answers to you.
Not flood
Rising water is not covered by any of these policies at any carrier. Flood is separate, through the National Flood Insurance Program or a private market, with its own waiting period. Renters can buy contents-only flood coverage, which surprises most people.
Not your roommate’s belongings
A renters policy covers the named insured and household members as defined by the policy. A roommate who is not on the policy is not covered by it, and needs their own.
Not unlimited on valuables
Internal category caps apply to jewelry, firearms and certain collectibles regardless of your total contents limit. Scheduling is how that gets solved.
Not a business run from the unit
Business property and business liability at a residence reach past what these policies were built for. Depending on scale, the answer is an endorsement or a separate small business policy.
Not a substitute for reading the form
Exclusions, conditions and internal caps vary between forms and carriers. Ask us what yours says rather than assuming it matches the last one.
Because these lines sit against each other so closely, they are worth building together — the unit or the rental alongside auto, with an umbrella sitting over both where the household warrants one.
The things that quietly change.
Neither of these policies is a document you file and forget, and both drift for reasons that are easy to miss.
The association changes its policy
Master policies get re-marketed, and deductibles get raised. When the association’s arrangement changes, the gap your policy is filling changes with it. Send us the new certificate when one arrives.
You improve the unit
New flooring, a kitchen, built-ins. Improvements a unit owner makes are frequently the unit owner’s to insure, and they do not announce themselves at renewal.
What you own changes
Rings, instruments, firearms, collections. Items subject to internal caps are the ones most likely to be underinsured without anybody noticing.
Who lives there changes
A roommate moving in or out, a partner joining the household. Who is named on the policy determines who it protects, and that is worth keeping current.
You move
Renters especially. A policy follows the named insured rather than the address, but the address is part of how it was rated, so tell us when it changes.
Reporting a claim
Report promptly and document before anything gets cleaned up. If the loss involves common areas, tell us early — there may be two policies to coordinate rather than one.
Discounts for holding more than one policy, protective devices and paperless billing are commonly available. Which ones apply is account-specific, so we work it out rather than promise it.
Other Stillwater lines.
Stillwater overview
The carrier profile: what Stillwater writes, how the appointment works, and where its financial strength ratings currently sit.
Stillwater homeowners
Settlement basis, the Arkansas roof rule, wind and hail deductibles, and the twelve percent claim penalty.
Stillwater auto
Arkansas minimum liability, uninsured motorist, total loss settlement, and the credit re-rate you can compel.
Stillwater landlord and dwelling fire
Rental property structure, loss of rents, tenant-caused damage, and the Arkansas deposit rules.
Stillwater personal umbrella
How an umbrella sits over the limits underneath it, and the underlying-limit requirement nobody mentions.
Stillwater businessowners policy
What a businessowners policy bundles, where the small business line stops, and what it leaves out.
Condo and renters questions we get.
What does a condo policy cover that the association’s master policy does not?
Why do two condo owners with the same coverage get very different results after a loss?
What is loss assessment coverage and why does it matter?
Does my landlord’s insurance cover my belongings?
Is renters insurance required in Arkansas?
Is flood covered by a condo or renters policy?
Cribb Insurance Group publishes carrier explainers, Arkansas coverage guidance and insurance education. Add Cribb Insurance as a preferred source on Google.
Send us the master policy.
For a condominium, the master policy and the association declaration. For a rental, the lease and a rough sense of what you own. We will tell you exactly what gap your policy needs to fill, what your loss assessment exposure looks like, and where Stillwater lands against the rest of our markets.
Bentonville, AR 72713
Stillwater and related marks are marks of their respective owners and are used here nominatively to identify a carrier Cribb Insurance Group is appointed with. Cribb Insurance Group Inc is an independent agency and is not affiliated with, endorsed by or acting on behalf of Stillwater Insurance Group or any Stillwater underwriting company.
Coverage descriptions on this page are general and simplified. Coverage, availability, eligibility, endorsements, internal limits and terms vary by policy and by state, and the actual policy language controls in every case. Nothing here amends any policy or creates coverage.
Condominium association master policies and governing documents vary by association and are not issued, controlled or interpreted by Cribb Insurance Group. Descriptions of how master policies commonly work are general. Your association’s documents and the issued policy control.
No premium figures, rate estimates, savings figures, suggested coverage limits or suggested deductibles are published on this page. Pricing and limit structure are developed from the individual account. Discounts are named without amounts; availability and application depend on the account, the state and the carrier’s filings.
Financial strength and financial stability ratings are assigned by independent rating agencies using their own separate scales, are opinions about a company’s ability to meet its insurance obligations rather than about claims handling or service, are subject to change, and are not recommendations to purchase any policy. The current rating position for this carrier is stated on the Stillwater carrier overview page and at ambest.com and demotech.com.
Arkansas statutory and Arkansas Insurance Department references are general information and not legal advice. Statutes and bulletins are summarized, carry provisions and exceptions this page does not cover, are subject to judicial interpretation, and may be amended. How any of this applies to a particular policy, property or claim depends on facts this page cannot know. Consult a licensed Arkansas attorney before relying on any of it in a dispute.
Last reviewed August 2026.