The Breeds Hill Program with Clarendon Insurance Company makes the master policy refer to the condominium documents. This means the insurance adjuster is to refer to the by-laws in the event of a claim and interpret what the by-laws intend to cover at the time of loss.
Review the insurance section of your by-laws. Be sure the wording is what your condo board wants. Are the trustees required to insure unit-improvements? Is the insurance section confusing, does it refer to unit improvements subsequent to the first sale? If the by-laws are unclear on what the master policy should cover it can only cause confusion when a claims occur. You may want to consult your attorney.
The Breeds Hill program issues a property policy called a Commercial Output Program. Refer to policy change #5 which defines Building Coverage as follows:
CHANGES
Condominium Association Changes
The COMMERCIAL OUTPUT PROGRAM policy form is amended as follows:
1. The following are added to PROPERTY COVERED, BUILDING PROPERTY:
Any of the following types of property contained within a unit, regardless of ownership, if your Condominium Association Agreement requires you to insure it:
(a) Fixtures, improvements, and alterations that are a part of the building or structure; and
(b) Appliances, such as those used for refrigeration, ventilation, cooking, dishwashing, laundering, security or housekeeping.
But Building does not include other personal property owned by, used by or in the care, custody or control of the unit owner.
2. The following are added to PROPERTY COVERED, BUSINESS PERSONAL PROPERTY:
(a) Personal property owned by you or owned indivisibly by all unit-owners;
(b) Your interest in the labor, materials or services furnished or arranged by you on personal property of others:
(c) Leased personal property for which you have a contractual responsibility to insure, unless otherwise provided for under Personal Property of Others.
But Business Personal Property does not include personal property owned only by a unit owner.