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
Transcribed Image Text:83 of 90
Your clients have been renting a unit in a condominium high
rise building and have a Tenants Comprehensive policy
through your office. They have just purchased a similar
condominium unit and will soon move in. What should you do
to change their insurance coverage?
Get full details of the security arrangements and alarm systems in the building. You
will then be able to recommend how much fire and theft insurance they should
carry.
Transfer the entire policy to their new address as they do not need any other
coverage.
Cancel the entire policy. They no longer have any need for insurance as the
Condominium Corporation is required by law to insure all insurable exposures for
the owners of every unit.
stead

Transcribed Image Text:Get full details of the security arrangements and alarm systems in the building. You
will then be able to recommend how much fire and theft insurance they should
carry.
Transfer the entire policy to their new address as they do not need any other
coverage.
Cancel the entire policy. They no longer have any need for insurance as the
Condominium Corporation is required by law to insure all insurable exposures for
the owners of every unit.
Cancel their Tenants policy and replace it with a Condominium Unit Owners policy.
[tm
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