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Condominium Coverage

A condominium policy covers the insured’s contents in a condominium unit. Since the building is owned by the condominium association, there is no building coverage. Liability coverage and loss of use are similar to the same stipulations as in homeowners or renters policies.There are some coverage considerations unique to condominium insurance. One is the need for coverage for additions or alterations the insured has made to the condominium unit. Anything the unit owner adds that is permanently attached to the building is considered part of the building and not contents. Therefore, the insured can buy additional coverage for such alterations. For example, the addition of kitchen cabinets or a stove are permanent fixtures and not considered contents.Loss assessment is also specific to condominiums. This covers the insured for assessments of unit owners in the case of loss due to an insured peril that either is not covered by the unit owners association or exceeds the limits of the association’s policy. For example, assume that someone is injured in the hot tub by the pool in the common area. The injured party sues the association and is awarded an amount in excess of the association’s policy limit. The association then assesses each member for his or her pro rata share of the excess.

If the insured owns a condominium that is rented part or most of the year, he or she needs to contact a qualified insurance professional to see what specific coverage is necessary.

Condominium polices are, like homeowners and renters policies, subject to limits on guns, cash, jewelry, and other unusual or expensive items. Additionally, there are restrictions for business use.

Conduct of proceedings clause

Liability policy clause (a) restraining the insured from making an admission of liability and (b) enabling the insurer to take over conduct and control of all proceedings, including the defence or settlement of any claim that may be within the policy. Enables the insurer to use the name of the insured to enforce claims against third parties, effectively permitting the exercise of subrogation rights before any indemnity payment has been made.

Conductor, Moor

In relation to a stage carriage, means a person engaged in collecting fares from passengers, regulating their entrance into, or exit from, the stage carriage and performing such other functions as may be prescribed.