Condominium Insurance Considerations: Owner-Occupant and Owner Who Rents Out

Owners of condominium units should review their condominium insurance needs carefully. A unit-owner’s policy is essential. In fact, in some jurisdictions, such as the District of Columbia, it is required by law. Even with a policy in hand, all too often, when a problem arises, a unit owner may be disappointed that certain perils are not covered. Although the condominium association’s “master policy” may cover some rebuilding costs, the unit-owner needs to be assured that there are no gaps (or costly overlaps) in coverage.       Read the article……..