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The rule will require home insurers that write policies in the state to offer coverage in high-risk areas, something the state has never done, Insurance Commissioner Ricardo Lara's office said in ...
California FAIR Plan insurance explained. The California Fair Access to Insurance Requirements, or FAIR, Plan was established in 1968 in order to provide insurance coverage to homeowners in high ...
Homeowners insurance vs. condo insurance Buying a condo is more similar to buying a home than a co-op. When you buy a condo, you own the unit and likely need condo insurance to insure it properly.
The remaining 21.3% of home insurance policies were covered by renter's or condominium insurance. 14.8% of these had the HO-4 Contents Broad form, also known as renters' insurance, which covers the contents of an apartment not specifically covered in the blanket policy written for the complex. [13]
An owner controlled insurance program (OCIP) is an insurance policy held by a property owner during the construction or renovation of a property, which is typically designed to cover virtually all liability and loss arising from the construction project (subject to the usual exclusions).
"One affordable housing provider, National Church Residences, saw its property insurance premiums increase by over 400% in the six years leading up to 2023, along with higher deductibles and ...
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A condo community is governed by a form of homeowners association which, in some jurisdictions, such as Ontario, Canada, is actually a condominium corporation that is managed by a board of directors. The association, of which all of the condo unit owners are members, sets out certain guidelines relative to the obligations of the unit owners as ...
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