Cell Phone: 773-879-0808
Boards have the authority to require that unit owners maintain liability insurance. All association boards are now requiring unit owners to carry liability insurance. This coverage protects the unit owner if damage to another unit is caused by an occurrence in the unit owner’s condominium. Depending on the association, coverage requirements for liability insurance can be as much as $1,000,000. Be sure to review all association documents and talk with your attorney so that you are comfortable with the requirements of your association board.
Additions and Alterations Coverage
A personal unit-owners policy covers your personal property, personal liability and the additions and alterations within your unit. The Additions and Alterations portion includes the upgrades in your unit – carpeting, wall covering, recessed lighting, cabinets; anything that was not standard in your unit. The coverage for your unit through the association may only cover standard grade, leaving this important additional amount up to you. The Additions and Alterations coverage will allow you to replace the upgrades in your unit.
A standard grade policy through the associate only allows coverage up to $1,000. We suggest adding this important policy upgrade in case the association policy does not provide the protection and coverage you need for your upgrades.
Personal Property Coverage
Association insurance policies do not cover personal property of the unit owner. This should be covered under the unit owner’s personal policy.-