The Condominium owners policy covers only the personal property of the insured. There is no insurance on the building because the Condo Association carries this coverage on a master policy for all property owned in common by the owners of the units.
There is $5000 Coverage A provided for the building improvements and alterations which are the responsibility of the individual Condo owner. This coverage can be increased as needed.
Loss assessment can be increased over the $5000 basic coverage provided, to cover the insured if they are assessed for a loss not covered by the Condo Association, if it is a covered peril under the condo owner's policy.
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