Discuss "per policy" or "per docs"

All-in policies or "Per the Doc's"

Condominium's represent a different form of ownership. When you purchase a unit and improve that unit there are always questions over what the master policy covers and what the unit insurance covers. The master policy will either cover unit improvements "based on the policy wording" or "per the condominium documents". "Policy wording" means somewhere in the insurance policy there is a clause that defines whether improvements made by unit owners are covered or not covered. "Per the condominium document" claims mean that the insurance company refers to the insurance section in your condominium documents. If the condominium documents require the trustees to insure unit improvements they are covered. If the condominium documents do not require the trustees to insure unit improvements or the documents are ambiguous you have "bare-wall coverage".

As a service to you our office has reviewed every master policy and determined how Improvements and Betterments are covered. You will find our definition in the middle of every condominium certificate where it says "How are unit improvements and betterments insured?" Our definitions are All-in per Condo Docs, Per Condo Docs, All-in, and Original Specs.

All-in	This means the master policy will insure any improvements to the building made by unit-owners. Even though the unit-owner might have spent large sums of money to modernize the kitchen and bath, the improvements would be covered on the master policy. The unit owner doesn’t need to insure the improvements on a homeowner’s policy. The insurance companies that offer "all-in" coverage usually do so with an endorsement. See the sample policy forms on our website.
All-in per Condo Docs	The insurance policy refers to the insurance section of the condominium documents to interpret what is covered on the master policy. If you see "all-in per condo documents" it means we have interpreted the master policy condominium document and feel it will adequately cover all improvements made by unit-owners.
Per Condo Docs	The insurance policy refers to the insurance section of the condominium documents to interpret what is covered on the master policy. If you see "per condo documents" it means we have interpreted the master policy condominium document and feel there is either no coverage for improvements made by unit-owners or the condominium documents are too ambiguous.
Original Spec's	Coverage only includes property in "units" and private storage areas which were initially installed in accordance with your condominium's original plans and specifications. If you have original specification coverage it means improvements or betterments are not covered on your master policy.

See our list of insurance carriers and the policy forms they use to insure improvement and betterments.

Check out our FTP site. You'll find an extensive list of the condominium documents we have scanned. If you don't see your association then send us your documents and we'll be happy to add them to the list.

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