Definition
A condo master-policy approach that insures the building structure but not unit interiors, leaving those to owners.
"Bare walls" is a type of condo master policy that covers the building's structure and common elements but stops at the unit's bare framing — leaving interior finishes, fixtures, and improvements to the owner's own policy.
It typically means lower association premiums but more responsibility (and required coverage) for individual owners. Knowing whether your master policy is bare walls, single entity, or all-in is essential so owners insure the right amount.