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COMMERCIAL PROPERTY CP 00 17 06 07 CONDOMINIUM ASSOCIATION COVERAGE FORM Various provisions in this policy restrict coverage. Read the entire policy carefully to determine rights, duties and what.

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A condo owner owns the air space inside their condo, sharing an ownership interest in the community property, such as the floor, walls, sidewalks, stairwells, and exterior areas. A general requirement of a condo owner is monthly payments to a condominium association that is in charge of property upkeep.

Building coverage may insure items that are permanently attached to the building itself, while personal property coverage includes property that is not part of the building. Building and personal property coverage exclude land, water, plants, roadways, crops, shrubs, money, accounts, instruments, or trees.

The Condominium Commercial Unit-Owners Coverage covers each of the following, except: Personal property The unit-owners' appliances cannot be owned by the insured to qualify for coverage, but the business personal property of the insured is covered.

Condominium Ownership Owners of condos receive a deed for their unit just like if they bought a house. They also own their unit in fee simple, which is the least restrictive form of real estate ownership recognized by law.

CP 00 18-Condominium Commercial Unit-Owners Coverage Form provides property coverage for the unit owner for the interior portion of the building and not on the building itself. Covered property includes fixtures added and improvements made and owned by the unit owner.

The Condominium Association Coverage Form (CP 00 17) is the Insurance Services Office, Inc. (ISO), commercial property coverage form that covers buildings and personal property owned by condominium associations.

The Insurance Services Office (ISO) commercial property program provides separate forms for insuring condominium properties from those used for general property. A single form—CP 00 17—is used for condominium associations.

(ISO), Commercial Property Legal Liability Coverage Form (CP 00 40) that provides coverage for sums the insured is obligated to pay as a result of accidental damage from a covered cause of loss to property of others in the insured's care, custody, or control (CCC).

The HO-6—Unit-Owners Form (HO 00 06), or HO-6, provides coverage for personal property on a named perils basis, with limited dwelling coverage (unit improvements and betterments). The HO-6 is designed to meet the risk management needs of the owners of condominium units and cooperative apartment shares.

What's the difference between HO3 and HO6? The main difference between an HO3 policy for a single-family home and an HO6 condo insurance policy is that while an HO3 covers the physical structure of your home itself, an HO6 policy only covers what's inside the walls of your condo.

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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Content Takedown Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232