Posted On: June 4, 2008, 7:40 am CDT

Posted By: Condo Agent

I have written condo insurance for more than 25 years. I have reviewed the association documents every time. While I'll concede that some are very specific about who covers what, more are very unclear. The bottom line for any condo association should be the preservation of the asset. Expecting individual unit owners to understand the nuances coverage is a recipe for disaster.

Did the association fully disclose the divisions? Do they provide documents that the unit owners can rely on in order to purchase their individual policies, do they discuss coverages, recommended limits?

The documents represent the MINIMUM responsibility of the condo association. That does not preclude purchasing broader coverage. If the association purchased all in coverage, paid the premium, assessed its members then they are due that coverage.

Does the policy specifically state that it only responds to the condo documents? Are the documents a part of the policy? A waranty of coverage? If not, the contract stands on its merits.

BTW, I have yet to lose this argument. But,then again I work with very reputable markets. Not markets that look first for a way to weasel out of paying claims.