Middle Oak offers a businessowner policy to condominium associations. All claims are settled based on the master policy and not the condominium documents. All Middle Oak businessowner policies are all-in regardless of how your condo documents are worded.
We still suggest the insurance section in your condominium documents reflect the boards intention to either cover unit improvements or not cover unit improvements. This could prevent a problem if you change insurance carriers from Middlesex Mutual and the new insurance company does not offer the all-in endorsement.
See mandatory all-in endorsement WA6716 below:
WA 6716 (10-03)
MIDDLESEX MUTUAL ASSURANCE CO.
WORLD’S APART
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
CAPstone COMMUNITY ASSOCIATION COVERAGE-MASSACHUSETTS
This endorsement modifies insurance provided under the BUSINESSOWNER Coverage Form.
BusinessOwners Property Coverage is amended as follows:
Paragraph A.1.a. Covered Property in the BusinessOwners Property Coverage is deleted in its entirety and replaced by the following:
a. Building, meaning the building or structure described in the Declarations, including:
(1) Completed additions;
(2) Permanently installed:
(a) Machinery; and
(b) Equipment;
(3) Outdoor Fixtures:
(4) Personal property owned by you that is used to maintain or service the building or structure or its premises, including:
(a) Fire extinguishing equipment;
b) Outdoor furniture;
c) Floor coverings; and
d) Appliances used for refrigerating, ventilating, cooking,
dishwashing or laundering that are not contained within individual units;
(5) If not covered by other insurance:
(a) Additions under construction, alterations and repairs to the building or structure;
(b) Materials, equipment, supplies, and temporary structures, on or within 100 feet of the described premises, used for making additions, alterations or repairs to the building or structure; and
(6) Any of the following types of property contained within a unit regardless of ownership
(a) Fixtures, improvements and alterations that are a part of the building or structure; and
(b) Appliances, such as those used for refrigerating, ventilating, cooking, dishwashing, laundering, security or housekeeping. and
(c) Partition walls within the units
But Building does not include personal property owned by, used by or in the care, custody or control of a unit-owner except for personal property listed in paragraph A.1.a.(6) above.
2. Paragraph A.1.b. Business Personal Property is deleted in its entirety and replaced by the following:
b. Your Business Personal Property located in or on the building described in the Declarations or in the open (or in a vehicle) within 100 feet of the described premises, owned:
(1) by you; or
(2) Indivisibly by all unit-owners.
This includes your interest in the labor, materials or services furnished or arranged by you on personal property of others;
Business Personal Property does not include personal property owned only by a unit-owner unless it is in the care, custody or control as covered below.
This also includes personal property of others that is in your care, custody or control except as otherwise provided in Loss Payment Property Loss condition 6.a. (6)(b) and 6.b. (5)(b).
WA 6716 (10-03)