The individual Association Declaration will define what property is insured by the Association and which items are insured by the homeowner’s policy, subject to the limitations and exclusions of the policy.
There specifically is no coverage for flood, earthquake, water and sewer back up or unit property in the Association’s master policy. Most policies exclude the Limited Common Elements, the Units and all personal property. Due to policy limitations and exclusions, there may be situations where certain losses are not covered by any insurance. In these instances, the costs will be borne by the individual unit owner.
Unit Owner Coverage
The purchase of a Condominium Owners' policy (Form HO-6) to cover your personal property, additions and alterations to your unit, additional living expenses should your unit become damaged due to a loss and personal liability is essential. The basic rate for this policy is based on the value of your personal property and the contents of your unit. You should also purchase extended coverage for building property, specific exclusions in the master policy or for a loss assessment that could become necessary in the event of an uninsured loss.
Water Backup Coverage
The sewer line serving your home may be shared by other homes before it reaches the main line. In addition, it is possible that a problem in the line may affect your home and waste water may back up into your home.
Certificates of Insurance
Your lender may request evidence of insurance when your loan is sold or the servicer changes. Please mail or fax a copy of the request to us as we cannot take this information over the phone or by e-mail. Certificates are issued by the Association’s insurance carrier and ample time should be allowed for delivery of updated insurance certificates.
Coverage for Dogs