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The Case for Unit Owners' Insurance
Author:
Jeff Rodin
Publication date:
January 19, 2018
Article Summary:
The article emphasizes the importance of unit owners in condominiums obtaining their own insurance policies. Many unit owners mistakenly believe that the building's insurance will cover any damages to their unit or belongings, leading to a potential financial risk. The article highlights several misconceptions and gaps in coverage that unit owners may face, such as not having coverage for certain damages or not having sufficient coverage to pay for deductibles.
Keywords:
Unit owner insurance, condominium insurance, Course of Construction, Wrap Up Liability, strata policy, Standard Unit By-law (S.U.B.), insurance coverage, deductibles, sewer backup coverage, special assessment, liability coverage, insurance policy, condominium corporation, property insurance, financial risk, deductible coverage, municipal by-laws.
Source Citation:
Jeff Rodin
The Case for Unit Owners' Insurance
January 19, 2018
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