Property Q&A in Ocean City>Question Details

Bobmurrey, Home Buyer in Ocean City, MD

Wha t insurance coverage do the condo fees pay for. Is it singal entity coverage?

Asked by Bobmurrey, Ocean City, MD Tue Jul 17, 2012

Raffles Condo's @ 127 th. Street Costal Hwy OC Md

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This question is about this property: http://www.trulia.com/property/3012653301-360-Raffles-104-12…

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4
Best thing to do is ask for the condo docs or ask the association and see what amount of coverage they have. That would be the best place to start.
1 vote Thank Flag Link Tue Jul 17, 2012
THE CONDO FEE TRADITIONALLY COVERS THE MASTER POLICIES FOR THE BUILDING, FIRE, FLOOR, HAZARD, AND LIABILITY. THE OWNER OF A CONDOMINIUM IN THE BUILDING NEEDS A HO6 POLICY OFTEN REFERRED TO AS A RENTERS POLICY THAT COVERS THE CONTENTS OF THE CONDOMINIUM AND PROVIDES LIABILITY INSURANCE FOR THE CONDOMINIUM.
1 vote Thank Flag Link Tue Jul 17, 2012
Most condo fees pay for all the common areas, pool, parking lot, roof etc. It also covers flood insurance, fire and common areas.
0 votes Thank Flag Link Tue Jul 17, 2012
Thank you for your questions about insurance on a condo. Mr. Bill pretty much covered it all except floor would be flood insurance.
Thanks.
Jim
0 votes Thank Flag Link Tue Jul 17, 2012
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