Condominium Insurance Coverage
The Associations first layer Insurance Carrier Essex has indicated that the Condominium Insurance Policy includes items that were in condominiums at time of developer sale, the policy excludes all after developer upgrades and sales incentives such as interior furniture packages or additions from original construction plans. Individual owners are responsible for all their interior furnishings.
The first insurance layer is associated with a five million dollar claim. Claims exceeding that amount will be negotiated with Lexington which is the Association's second insurance layer.
