Which one (1) of the following statements most accurately describes a special feature of the Condominium Unit Owners Comprehensive Policy?•It provides additional coverage for damage to the owned condominium unit if the Condominium Corporation's insurance is inadequate or is not effective.•It provides additional insurance protection for the Condominium Corporation in the event of an uninsured loss.•It amends the Tenants Comprehensive policy to include that which is usual to a condominium.•It adds the condominium corporation as an additional named insured with respect to liability coverage.

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter10: Protecting Your Property
Section: Chapter Questions
Problem 7FPE
Question

Which one (1) of the following statements most accurately describes a special feature of the Condominium Unit Owners Comprehensive Policy?

It provides additional coverage for damage to the owned condominium unit if the Condominium Corporation's insurance is inadequate or is not effective.

It provides additional insurance protection for the Condominium Corporation in the event of an uninsured loss.

It amends the Tenants Comprehensive policy to include that which is usual to a condominium.

It adds the condominium corporation as an additional named insured with respect to liability coverage.

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