One of the most popular aspects of our Elite Condominium Insurance Program are the custom unit owner supplements that we create and give to all unit owners. What we have found over our years of dealing with associations is that each one not only needs unique coverages from the master policy, but from the unit owner’s policies as well. For example, one association may cover every aspect of the building from the wall board in, while another might require unit owners to be responsible for doors and windows, while even another may make the unit owner responsible for everything outside of the studs. Unit owners frequently find themselves confused on what kinds of coverages they need and in what amounts. When these same unit owners do not have the correct coverages in place, it can greatly affect how a claim is paid and how the master policy responds. Unit owners need to be made aware of what coverages they need to have and in what amounts. This is exactly what these unit owners’ supplements provide. Because we write the master policy and have been able to study the association’s condominium documents, we have the knowledge to be able to put in writing exactly what each member needs to carry based upon their situation (i.e. do they rent or is this a second home or primary). By having this in a well designed pamphlet, the unit owner has the ability to go to their current broker and tell them exactly what they need or come to us and let us design the policy for them. It has been, and always will be our philosophy that educating the unit owners on what they need to carry for insurance is just as important as making sure the master policy has all of the correct coverages. To see an example of one of our supplements, click on the link below to view a sample.
Sample Unit Owners Supplement
