Asking about Master Policy for a Condo

[Tcollins]

Hi all,

I'm hoping to write an HO-6 for a client, and he has given me the declaration page for his current HO-6. I also have the name of the agency that has the Master policy and the name of the condominium association.

I need to make sure there are no gaps in coverage between what the master covers and what the H O-6 I write covers (is the unit owner responsible for studs-in, or sheetrock in for example).

When I call the agency that has the master policy, what information is most crucial? Do I need to know what the Master Policy deductible amounts are or anything like that? Any advice would be appreciated. Thanks for your help!

 

[adjusterjack]

is the unit owner responsible for studs-in, or sheetrock in for example

You'll find that in the CC&Rs (Covenants, Conditions & Restrictions) that contain definitions of "Unit" and "Common elements."

The HO-6 covers the "Unit" and the master policy covers the "Common elements."

Doesn't really matter what the master policy's deductible is because that deductible will be paid by the association's reserves that come from the fees of all the unit owners.

 

[InsCommentary]

Sell the maximum available loss assessment coverage, both property and liability.