Maryland HOA and condo insurance, where the statute sets no property percentage and the governing documents and lender standard set the bar. The distinctive Maryland pieces are the statutory fidelity formula and the ten thousand dollar deductible cap

The Maryland Condominium Act, at Maryland Code, Real Property Section 11-114(a), requires the council of unit owners to maintain property insurance against risks of direct physical loss commonly insured against in amounts determined by the council, but not less than any amounts specified in the declaration or bylaws. Unlike the eighty-percent-floor and full-replacement-cost states, Maryland sets no statutory percentage, so the effective property standard comes from the governing documents and the conventional lender, not from the statute. That makes confirming the master policy is written to full replacement cost, and to the Fannie Mae warrantability bar, the central Maryland exercise.

Maryland does prescribe a fidelity requirement, and it is one of the more specific in the country. Real Property Section 11-114.1 for condominiums, and the parallel Section 11B-111.6 for homeowners associations, require fidelity insurance to be in place by the first conveyance of a unit or lot to someone other than the developer, in an amount equal to at least the lesser of three million dollars or three months of gross assessments plus the total held in all investment accounts. Because that figure moves with assessments and reserves, it should be recomputed each year rather than set once and forgotten.

Real Property Section 11-114 also caps how much of the council's property insurance deductible can be shifted to a single unit owner. When the cause of damage originates from a unit, that owner is responsible for the council's deductible up to ten thousand dollars, and any excess is a common expense. That cap shapes the loss assessment and master-deductible conversation, since it limits what an owner's unit policy has to absorb and pushes the balance back onto the association.