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.
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.
Chapter10: Managing Property And Liability Risk
Section10.3: Homeowner’s Insurance
Problem 1CC
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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