Multi-Family Complexes: (Apartment and Condo)
Multi-Family Complexes: (Apartment and Condo)
An In-Depth Look at Insuring the Many Exposures and Losses
Given the myriad of conditions, relationships and exposures that can exist with multi-family complexes, making sure the right insurance program is in place merits foresight and planning.
Apartment complexes, condominiums and cooperative apartments. All have many characteristics in common, but there are also important individual differences in the way they are insured for property loss, legal liability, and other exposures.
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Key Points and Page Numbers
- Rental Apartments – 1
- Condominiums – 2
- Cooperative Agreement – 2
- Insurable Property Exposures – 2
- Additional Coverages—Coverage Extensions – 2
- Covered Causes of Loss – 3
- Deductibles – 5
- Special Condominium Insurance Problems – 6
- Special Cooperative and Rental Insurance Problems – 7
- Ordinance or Law Exposure – 7
- Lease/Declarations Provisions – 9
- Insurance Provisions – 9
- Conflict Over Coverage Interpretations – 9
- Repair and Maintenance Provisions – 10
- Liability Exposures – 10
- Criminal Exposures – 13
- Loss Control and Safety Measures – 13
- Additional Occupancies Sometimes Encountered – 14
- Common Apartment Loss Problems – 14