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You will likely be required to have condo insurance, which is also known as HO-6 insurance. Then, your condo association’s HOA policy will work in tandem with your condo insurance policy to ...
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 Condominium Act requires every association to carry an insurance policy to cover the full replacement value of all structures on the property.
It is an insurance policy that combines various personal insurance protections, which can include losses occurring to one's home, its contents, loss of use (additional living expenses), or loss of other personal possessions of the homeowner, as well as liability insurance for accidents that may happen at the home or at the hands of the ...
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).
Car insurance premiums in America are through the roof — and only getting worse. ... all three-story-plus condo buildings and at least 30 years old must undergo a mandatory engineering ...
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