COVERAGE
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DESCRIPTION
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Amount needed to rebuild the building(s) |
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An additional 25% of building replacement coverage amount to account for increased costs of materials/labor |
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Amount to pay for costs to bring a building into compliance with updated building codes |
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Covers fences, walks, pools, etc. |
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Pays for debris removal in a partial/total loss situation |
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For apartments, commercial buildings – coverage for lost rents |
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For community associations – covers association dues while the complex is being rebuilt |
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Included with your master community association policy. |
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Pays to rekey the complex if master keys are lost |
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Pays the service charge assessed when the fire department is deployed to your complex |
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Coverage where there is legal liability. Pays for legal defense, medical expenses, rehabilitation costs and other expenses such as legal settlement |
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Coverage for unintentional mistakes made by directors/officers that result in loss to the association |
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Pays for property damage that results from a sewer/drain back-up |
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Pays for liability issues that arise when someone appointed by the board to conduct it’s business is liable for an auto accident. |
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Additional general liability coverage comes in increments of $1 million. |
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Pays for building replacement when the cause is earth movement or an earthquake |
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Protects the association for liability that may arise from using service providers |