What are the implications of granting a waiver of subrogation? What is "severability of insurance"?

Aug 17, 2004 ... The law does not require the condominium association's property insurance to provide coverage for unit owners' personal property. In the case of ... Jan 16, 2025 ... What Does Condo Insurance Cover? · Interior Property · Liability for Injuries · Personal Belongings · Loss of Use. Mar 31, 2024 ... Policies for corporations typically cover the exterior of the building, the inner workings (like elevators and HVAC) and common or shared areas ... Make sure your condo corporation protects your shared interest and responsibility · provides full replacement cost coverage for buildings and shared property Condo Insurance FAQs ... What does condo insurance cover? Condo insurance typically covers: Damage to your belongings in your unit caused by fire or smoke, ... Common areas of the building that you share with your neighbors like parking areas, lobbies, stairways or elevators are generally covered by the condo ... Feb 5, 2019 ... Condo insurance covers sudden accidental damage to your property but does not include water damage due to long term causes such as slow leaks. HO-6 condo insurance covers most of the things you would expect to be covered in a home, as long as they live within the walls of the condo. Aug 3, 2023 ... Now, the damages typically are only covered up to the value of original materials installed in the unit. Any upgraded materials would be covered ... Jun 1, 2024 ... There are two acceptable options for unit coverage depending on what the governing documents indicate: The condominium homeowners association ...