What does alterations and additions mean on a condo insurance policy?

Answer Usually, alterations and additions to the interior of a condominium unit means changing the interior of a unit by turning a closet into a study or nursery, for example, or adding a half-wall in a g... Read More »

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What is the difference between betterments and improvements and additions and alterations in a condo policy?

When buying insurance, it is key that you get an explanation, preferably in writing, from a broker when/if the policy uses any of these terms, to satisfy yourself that you're buying the coverage yo... Read More »

What are the implications of having the condo association as an added insured on homeowner's condo insurance policy?

Answerthey are an insured under the policy as they 'own' the outside of the 'implicatons' other than in some claims they would/may be included on the draft in may b... Read More »

North Carolina Commissioner of Insurance If refinancing a condo do I have to insure my condo for the full mortgage amount or only my the personal property and proof of HOA Master Policy?

Your board or your management company can help you determine how much personal property insurance you need to carry in your HO-6 policy, depending on the coverage available to you in the master ins... Read More »

Your condo association insurance policy has expired and the board members have not informed the tenantswhat do you do?

If you are a tenant, you can inform the unit owner, including evidence, that the master policy on the commonly owned real estate assets has expired.The owner, then, would send an official notice to... Read More »