Your clients have just bought a condominium unit and intend to renovate the kitchen completely. How would you arrange insurance on these renovations under a Condominium Unit Owners Comprehensive policy? Find out the cost of the kitchen renovations and increase the limit of insurance on Personal Property. Nothing special is needed. The improvements will be considered part of the building and are therefore covered by the Condominium Corporation's insurance. Increase the coverage amount on Improvements and Betterments to include the cost of these renovations. The renovations are covered automatically as part of the Unit under Coverage A1 and therefore no action will be necessary.
Your clients have just bought a condominium unit and intend to renovate the kitchen completely. How would you arrange insurance on these renovations under a Condominium Unit Owners Comprehensive policy? Find out the cost of the kitchen renovations and increase the limit of insurance on Personal Property. Nothing special is needed. The improvements will be considered part of the building and are therefore covered by the Condominium Corporation's insurance. Increase the coverage amount on Improvements and Betterments to include the cost of these renovations. The renovations are covered automatically as part of the Unit under Coverage A1 and therefore no action will be necessary.
Related questions
Question
Pls help ASAP
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 4 steps