Condos and co-ops are similar in that both have monthly maintenance fees that cover building expenses including heat, hot water, insurance, staff salaries, and real estate taxes. In both cases, the building’s master insurance policy should cover damage to the exterior as well as common areas such as walkways, foyers, elevators, basements and roofs.

More and more, insurers are using complicated surcharge and tier systems that do two things: make it far more difficult to assess risk and therefore premium amounts; and skew the system to benefit drivers with flawless records at the expense (literally) of drivers who don’t.