Given that the insurance for my condo, which is rented out, is up for renewal, I thought I would ask people what level of cover people think I should have and any other helpful comments that they may have This is the current renewal for a cost of $379 and is from Travelers Thanks Section I - Property Coverages Premium Limit of Liability... [more]
Given that the insurance for my condo, which is rented out, is up for renewal, I thought I would ask people what level of cover people think I should have and any other helpful comments that they may have
This is the current renewal for a cost of $379 and is from Travelers
Thanks
Section I - Property Coverages Premium
Limit of Liability
_____________________________________________________________________________________
A - DWELLING $ 42,000 INCL
C - PERSONAL PROPERTY 26,250 $ 97.00
D - LOSS OF USE 13,125 INCL
_____________________________________________________________________________________
Section II - Liability Coverages
_____________________________________________________________________________________
E - PERSONAL LIABILITY (BODILY INJURY AND
PROPERTY DAMAGE) EACH OCCURRENCE 500,000 55.00
F - MEDICAL PAYMENTS TO OTHERS- 5,000 incl
EACH PERSON
_____________________________________________________________________________________
Policy Forms and Endorsements
HA-6 (12-86) Homeowners 6 Condominium Unit
Owners Form
HA-300 NY (11-03) Special Provisions
HA-390 NY (12-02) Workers Compensation and Employers
Liability
HA-406 NY (02-98) Special Condominium (and Cooperative)
Form Provisions
56494 NY (06-91) Contents Replacement/Repair Cost 35.00
Coverage
HA-32 (12-86) Condominium Unit-Owners or 150.00
Apartment Share-Owners Building Coverage
Non Specified Perils
HO-33 (01-86) Unit-Owners Rental to Others 28.00
56432 (12-86) Loss Assessment Coverage 14.00
I & II Non-Specified Perils
Total Premium $ 379.00
_____________________________________________________________________________________
Your Premium Reflects the Following Credits or State Surcharges
Security Credit -13.00
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Response by inoeverything
over 17 years ago
Posts: 159
Member since: Jan 2007
Premium way too high!!!
Ignored comment.
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Response by front_porch
over 17 years ago
Posts: 5321
Member since: Mar 2008
That seems about right, although half a million in liability seems like a low coverage level -- we carry a million due to our condo requirements.
But that feels like about our premium, I think we have a little more coverage for the same price, but our condo is our primary residence and generally insurance is more expensive when tenants are involved.
Premium way too high!!!
That seems about right, although half a million in liability seems like a low coverage level -- we carry a million due to our condo requirements.
But that feels like about our premium, I think we have a little more coverage for the same price, but our condo is our primary residence and generally insurance is more expensive when tenants are involved.
ali r.
{downtown broker}