Insurance Condo Policy

INSURANCE CONDO POLICY

Policy Identification

Policy Number:    Effective Date:    Expiration Date:

Insured / Applicant Information

Date of Birth:    Phone:    Email:

Condominium Unit Information

Building/Association Name:    Unit Type:

Policy Coverages and Limits

Coverage A — Unit Additions and Alterations Limit:

Coverage C — Personal Property Limit:    Coverage D — Loss of Use (ALE) Limit:

Personal Liability Limit:    Medical Payments Limit:

Deductible (per loss):    Annual Premium:

Optional Coverages / Endorsements

Loss Assessment Coverage (assessment by association)

Extended Water Damage Coverage (including sudden and accidental plumbing)

Ordinance or Law Coverage (increased cost to repair/comply)

Coverage Selection (check all that apply)

Unit Additions and Alterations (Coverage A)

Personal Property (Coverage C)

Additional Living Expenses / Loss of Use (Coverage D)

Personal Liability and Defense

Exclusions and Limitations

The coverage afforded by this policy does not apply to loss or damage, or expense, directly or indirectly caused by or resulting from the following, except as otherwise provided by endorsement: (a) wear and tear, deterioration, inherent vice; (b) intentional acts or fraudulent acts by an insured; (c) earth movement, subsidence, sinkhole, unless specifically endorsed; (d) governmental action; (e) mold, fungus or bacteria unless resulting from a covered peril; (f) war, nuclear hazard, and other perils customarily excluded. Initial acknowledgment of exclusions:

Mortgagee, Additional Interest, or Beneficiary

Mortgagee / Loss Payee Name:

Mortgagee Address:

Beneficiary (if applicable) Name:    Relationship:    Share %:

Conditions and Duties After Loss

1. Prompt Notice and Proof of Loss: The insured must give prompt written notice to the insurer of any loss. The insured shall provide a signed, sworn proof of loss as required and permit inspection and examination under oath as often as required. Failure to comply may result in denial of coverage to the extent prejudicial to the insurer.

2. Protecting Property and Mitigation: The insured shall take reasonable steps to protect the property from further damage and to preserve any recoverable property. The insurer will pay reasonable costs incurred for such measures subject to the deductible.

3. Subrogation and Recovery: The insurer, upon payment of any loss, shall be subrogated to the insured's rights of recovery against any responsible party. The insured shall cooperate in securing and enforcing such rights.

Cancellation and Nonrenewal

This policy may be cancelled, nonrenewed or modified in accordance with the terms set forth in the policy conditions. Premium adjustments and refunds will be calculated pro rata unless otherwise provided. Notice requirements set forth in the policy shall govern.

Declarations and Certification

The insured declares that the information provided in this policy application and declarations is true, accurate and complete to the best of the insured's knowledge. The insured understands that material misstatement, misrepresentation, or omission may result in denial of coverage and rescission of this policy to the full extent permitted by applicable law.

Acknowledgment

By signing below the applicant affirms receipt of the policy declarations and understands the coverages, limits, exclusions and duties required under this policy. The applicant authorizes the insurer to obtain information reasonably required to underwrite and administer this policy.

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