What it does
Insures the unit owner's building property, such as fixtures, improvements and alterations, against direct physical loss unless excluded instead of only the named perils.
Who needs it
Condo owners responsible for interior finishes and improvements under the association documents.
Quoting and selling notes
- Set the Coverage A limit from the master deed and bylaws ("bare walls" versus "single entity").
Editions and availability
Editions in use and where they apply: 03 22 (38 jurisdictions); 02 17 (7 jurisdictions: AL, CA, CT, GA, HI, LA, VI); 10 00 (1 jurisdiction: PR).
Homeowners endorsements are built for a specific program edition. When a carrier moves a state from the 2011 (05 11) program to the 2022 (03 22) program, the endorsement editions move with it, so match the endorsement edition to the policy form edition shown on the declarations.
