What is "ordinance or law" coverage?

A basic condo insurance policy contains five levels of coverage: dwelling (your unit), personal property, loss of use, liability, and medical payments to ... Condo insurance, one of several essential types of homeowners insurance, will generally cover sudden water damage events stemming from your unit. What Condo Insurance Can Include · Property Coverage · Personal Possessions Coverage · Liability Coverage · Medical Payments to Others · Additional Living Expenses ... Sometimes referred to as “HO6 insurance,” condo insurance can cover liability claims, damage to your condo unit and belongings, and additional living ... Condo insurance works with your condo association's policy. It is usually less expensive than a typical homeowners policy and covers your stuff within your ... Condo liability coverage helps cover medical expenses that you are court-ordered to pay due to an accident that occurs within your condo's walls. What types of insurance coverage is there for a condominium? ​ ... ​The master policy provides coverage for the structures and common areas against risks of ... Since the FAIR Plan policy does not cover all the perils insured under a traditional homeowners' insurance policy such as theft or liability, you may want to ... 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 ... Common areas of the building that you share with your neighbors like parking areas, lobbies, stairways or elevators are generally covered by the condo ...