Prohibits condominium associations from assessing insurance deductibles to individual unit owners or groups of unit owners.

This bill prohibits New Jersey condominium associations from charging individual unit owners or groups of owners for insurance deductibles. Currently, associations may require owners to cover these costs as part of "common expenses," but the bill removes deductibles from that definition. The law would require associations to pay insurance deductibles directly from their own funds, not pass them to owners. This change directly affects condominium associations and their unit owners by shifting financial responsibility for deductibles to the association.