MD HB469

Requires owners of residential condominium units (excluding detached units) to maintain a condominium unit owner insurance policy with minimum coverage including: personal liability of at least $500,000, loss assessment coverage of at least $25,000, dwelling/building property coverage of at least $25,000, and loss of use coverage for at least 12 months of alternate housing.

Unit owners must provide proof of insurance to the council of unit owners annually and upon request.

Condominium bylaws may require coverage amounts exceeding the statutory minimums.

If a unit owner fails to maintain required insurance, the council of unit owners may acquire a policy on the owner's behalf and charge the premium as an assessment to that owner.

Effective October 1, 2026.