WEDNESDAY, SEPTEMBER 30, 2015
If you own a Condominium or Villa(shared wall type of dwelling) you may be familiar with Assessments. A Condo insurance policy does not cover all types of assessments, in fact maintenance items simply are not covered.....such as parking lot resurfacing, redoing pool/tennis courts fall within the maintenance issues. Items that may fall within your Condo Policy coverage is assessment due to Covered loss such as fire to club house.
Not all Condo policies include Loss Assessment coverage and most insurance companies offer different limits, perhaps $2,000 up to $50,000. The choice is up to each Condo Policy Owner, just as Condo Building Items/Additions and Alterations is available in different limits and once again up to each unit owner.
Feel free to check with Flanigan Insurance to review your Condominium Policy Needs @ 314-727-6000.