Buying a Condo in Atlanta or Miami? 7 Insurance Questions to Ask the HOA Before You Make an Offer

By Brent Dixon, Licensed P&C Commercial Insurance Advisor · B. Dixon Risk Management Corp. / The Dixon Agency LLC · Serving Atlanta and Miami · bdixonrisk.com

Most condo buyers evaluate the unit. Smart condo buyers evaluate the building’s insurance — because in 2026, that is what decides whether your loan closes, what your monthly costs really are, and whether you inherit a special assessment three months after you move in. The unit is easy to inspect. The association’s master policy, its deductible, and its financial health are invisible unless you ask the right questions, and by the time your lender surfaces the problems, you may be days from closing with a rate lock ticking. This is the list of questions to ask the HOA before you write the offer — while you still have every option open.

Key Takeaways

• The building’s insurance can kill your loan even when your finances are perfect. Warrantability is a test on the project, not on you.
• Ask before you offer, not after you’re under contract. Every problem below is fixable with time and fatal without it.
• The master policy deductible drives two hidden costs: the HO-6 coverage you’ll be required to carry, and your exposure to special assessments.
• A few documents tell the whole story: the master policy declarations page, the condo questionnaire, the reserve study, and the assessment history.
• An hour of questions up front can save a dead deal, a blown rate lock, or a surprise four-figure bill later.

Why the Building’s Insurance Is Your Problem Before You Even Own It

When you buy a condo, you’re not just buying a unit — you’re buying into a shared financial and insurance structure you don’t control. The association’s master policy insures the building. Its reserves and assessment history determine your future costs. And its warrantability — whether it meets Fannie Mae and Freddie Mac standards — determines whether you can get a conventional loan at all.

Here’s the trap: your lender won’t examine most of this until you’re already under contract, often around two weeks before closing. If something’s wrong, you’re now solving it under deadline pressure, with your rate lock expiring and your deposit at risk. The buyers who close smoothly are the ones who asked these questions before they fell in love with the unit. We covered the mechanics of how the master policy makes or breaks a loan in our guide to condo warrantability in 2026 — this article turns that into a practical pre-offer checklist you can actually use.

The 7 Questions

1. “Can I see the master policy declarations page?”

This is the single most important document, and it’s the one buyers almost never request early. The declarations page shows the carrier, the coverage amounts, and — critically — the per-unit deductible. Everything else flows from this one page. If the association or management company hesitates to provide it, that itself is a signal. Ask for the current dec page and the full policy if you can get it.

2. “What is the per-unit deductible, and which perils does it apply to?”

The per-unit deductible is the number that quietly controls your costs. Under the 2026 Fannie Mae and Freddie Mac rules, it’s capped at $50,000 for conventional loans — but a building sitting at or near that cap creates two consequences for you: a larger required HO-6 policy, and bigger exposure if the building levies an assessment after a claim. Ask specifically whether the deductible applies to wind and hail, because in both Georgia and Florida those perils often carry their own, higher deductibles, and your own coverage has to match them.

3. “Is the building currently warrantable — and has any lender flagged it?”

Ask directly whether the project is considered warrantable and whether any recent buyer’s lender has raised an issue. A non-warrantable building doesn’t mean you can’t buy — it means you’re pushed into non-QM, portfolio, or DSCR financing with higher rates and down payments. If you’re planning on a conventional loan, warrantability is pass/fail for your entire deal. Finding out now lets you either line up the right financing or walk away before you’re emotionally and financially committed.

4. “What HO-6 coverage will I be required to carry?”

In most buildings today, you’ll need an individual HO-6 “walls-in” policy with dwelling coverage at least equal to the master policy’s per-unit deductible. If that deductible is $50,000, your HO-6 may need $50,000 of interior coverage purely to satisfy the requirement — and it has to cover the same perils, including wind and hail. This is a real, recurring cost you should price before you offer, not discover at underwriting. Our full breakdown of this requirement is in our guide to HO-6 insurance for Atlanta condo buyers.

5. “What is the assessment history, and is anything pending?”

Ask for the special assessment history over the last several years and whether any assessment is currently pending or being discussed. A building that has repeatedly assessed owners is telling you its reserves are thin and its costs are outrunning its dues. Worse, a pending assessment can become your obligation depending on timing and how the purchase contract allocates it. This is also where you learn whether the building’s high master deductible has already turned into owner bills — the exact risk we detail in our article on condo special assessments and the master policy deductible. Confirm you carry adequate loss assessment coverage on your HO-6 either way.

6. “How well-funded are the reserves?”

Reserve funding is both a warrantability criterion and a predictor of your future costs. Fannie Mae generally wants to see at least 10% of the annual budget going to reserves (rising to 15% for applications dated on or after January 4, 2027). Ask for the most recent reserve study and the current reserve balance. An underfunded association is one bad year — or one big repair — away from a special assessment, and it can quietly fail warrantability even if everything else looks fine.

7. “Has the master policy been non-renewed or had major premium increases recently?”

Insurance instability is the leading edge of financial trouble in Atlanta and Miami condo buildings. Ask whether the master policy has faced steep premium increases, coverage reductions, or a non-renewal in recent years. A building fighting to stay insured may be raising deductibles (pushing costs to you), burning through reserves, or heading toward warrantability problems. If the answer reveals a building in the middle of a coverage crisis, that’s critical information — our guide to being non-renewed in Georgia explains just how disruptive that situation becomes.

The Documents That Answer Most of These at Once

You don’t have to interrogate the board member by member. Four documents, requested from the association or management company, answer most of the seven questions:

• The master policy declarations page — carrier, coverage, and the all-important per-unit deductible.
• The condo questionnaire (the form lenders use) — warrantability data, owner-occupancy, delinquency, and insurance details.
• The reserve study and current reserve balance — financial health and reserve-funding percentage.
• The assessment history and current budget — past special assessments and whether anything is pending.

A buyer’s agent can request these, but the buyer bears the risk if they’re skipped. Don’t assume the listing agent has already vetted the insurance — in my experience, it’s the piece most often overlooked until a lender forces the issue.

Shopping for a condo and want a second set of eyes on the building’s insurance before you offer? Send me the master policy dec page and the condo questionnaire, and I’ll tell you within a day whether the building is a clean deal or a problem waiting to surface. Contact Brent Dixon for a pre-offer review.

A Tale of Two Buyers

Two buyers make offers on similar units in different Atlanta buildings the same week. The first asks none of these questions, goes under contract, and on day 18 learns the master policy carries a $60,000 per-unit deductible — above the cap — making the building non-warrantable. Their conventional loan collapses. They lose the rate lock and scramble for portfolio financing at a higher rate, or walk and forfeit costs.

The second buyer asks for the dec page and questionnaire before offering. They discover the building is clean: a $10,000 deductible, well-funded reserves, no assessment history. They offer with confidence, line up an appropriately sized HO-6 in advance, and close on schedule with zero surprises. Same market, same week — the only difference was a set of questions asked in the right order. That’s the entire edge.

Frequently Asked Questions

What insurance documents should I ask for before buying a condo?

At minimum, the master policy declarations page, the condo questionnaire, the reserve study with current reserve balance, and the assessment history. Together these reveal the per-unit deductible, warrantability, financial health, and your likely HO-6 and assessment exposure.

Can a building’s insurance really stop me from getting a mortgage?

Yes. Warrantability is a test on the whole project, not on you. If the master policy fails Fannie Mae or Freddie Mac standards — for example, a per-unit deductible above the $50,000 cap — most conventional lenders won’t finance any unit in the building, regardless of your credit or down payment.

Why does the master policy deductible matter to me as a buyer?

It drives two of your costs. It sets the minimum HO-6 dwelling coverage you must carry, and it determines your exposure to special assessments — because after a claim, the association pays that deductible first, often by billing owners. A higher deductible means a bigger required HO-6 and a bigger potential assessment.

When should I ask these questions — before or after making an offer?

Before, if at all possible, and no later than the first days under contract. Every issue these questions surface is fixable with time and potentially fatal without it. Asking early preserves your options: negotiate, arrange the right financing, or walk away before your deposit and rate lock are at risk.

What if the HOA won’t provide the insurance documents?

Reluctance to share the master policy declarations page or condo questionnaire is itself a warning sign. These are standard documents any buyer’s lender will eventually require. If the association or management company resists, treat it as a reason for extra scrutiny, not less.

Do these questions apply to Miami condos as well as Atlanta?

Yes. The Fannie Mae and Freddie Mac standards are national, so both markets face the same warrantability tests and $50,000 deductible cap. Miami adds heavier wind and coastal exposure plus Florida’s structural-integrity and reserve rules, which makes the deductible and reserve questions even more important there.

Should I have a professional review the building’s insurance?

It’s worth it for a purchase this size. An independent insurance advisor can read the master policy against current Fannie/Freddie standards, flag warrantability or deductible problems, and size your required HO-6 — usually within a day, and well before your lender forces the issue at underwriting.

Ask First. Offer Second. Close Smoothly.

A condo purchase has one category of risk you can eliminate almost entirely just by asking questions in the right order. Get the master policy dec page, read the deductible, check the reserves and assessment history, and size your HO-6 — all before you write the offer. The buyers who do this close on time and sleep well. The ones who skip it meet these facts at underwriting, when the options have narrowed to bad and worse.

Before you make an offer on an Atlanta or Miami condo, let me vet the building’s insurance for you. I’m a licensed P&C advisor who reads master policies and condo questionnaires for buyers across Georgia and Florida. Contact Brent Dixon for a pre-offer review, or explore our services.

This article is general information, not insurance, legal, or financial advice. Mortgage investor guidelines, coverage requirements, and effective dates change and vary by lender, building, and circumstance. Verify current requirements with your lender and a licensed insurance professional.