CONDOMINIUM COVERAGE FORM-UNIT-OWNERS COVERAGE FORM
applies to business personal property of a named insured unit-owner and personal property of others in the care, custody or control of that unit-owner. Coverage under this form applies in the same manner and with the same general options as in the building and personal property coverage form, except for considerations given to the unique nature of condominium bylaws and their coverage requirements. Condominium declarations and bylaws must be examined to determine if fixtures and improvements should be covered by the association or by the unit-owner. Loss assessment coverage is important to a unit-owner and applies to the named insured's share of an assessment by the association for an uninsured loss involving common property. It is usually an option under a unit-owner's policy and is covered for the same perils or causes of loss that apply to the named insured's own property. This coverage is available in standard forms, but some insurance companies have developed proprietary forms.