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insurance requirements

Started by tobytoby
over 15 years ago
Posts: 168
Member since: May 2009
Discussion about
Just wondering what are the common insurance requirements for an owned condo. Our Board is requesting, $1M in comprehensive personal liability and $1M in bodily injury insurance. Is this common? Thanks in advance.
Response by NWT
over 15 years ago
Posts: 6643
Member since: Sep 2008

Yes. The amounts might vary, though.

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Response by Oxymoronic
over 15 years ago
Posts: 165
Member since: Dec 2007

The sponsors initially had our liability insurance set at a minimum of $3mn which actually made it difficult to find coverage. The Board have now reduced it to $1mn.

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