if my policy has limits of 382,200 and it is a cond. does each side of the cond. have 191100?

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Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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UPDATED: Sep 2, 2012

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Insurance Question from Van Wert, OH

Asked on 09/02/2012

if my policy has limits of 382,200 and it is a cond. does each side of the cond. have 191100? NULL

Answer given on September 03, 2012

Your question about condo insurance needs a little clarification. If the policy you are referring to is a condominium association policy then the policy limit applies to all units in the building. The association policy is usually written on a blanket basis so the limit applies to each unit as needed. If all units are damaged the policy will be divided among all units up to the policy limit (and less the deductible). It is up to the insurance company to determine the settlement of the limits of the policy. The association policy does not usually include personal property, unless some was purchased for the association such as business property.If you are referring to a unit owner’s policy, then the building coverage applies to your unit only. A unit owner’s policy includes personal property coverage for your unit and usually includes loss assessment coverage from $1500 to $50,000 depending upon what you selected for your insurance coverage.


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