About This Coverage

The Condominium Package provides affordable protection for associations of property owners. Coverage can include commonly owned property, protect the association and its members from liability and help shield the actively involved directors from legal action from their work on behalf of the group.

State Eligibility


Eligible State

State Not Available

Industries Available


  • Real Estate Rental and Leasing

Coverage Limits


Up To

$4M

Minimums


Key Features


Preferred Classes


  • Commercial/Office/Industrial Parks
  • Cooperatives
  • Dock Associations
  • Homeowner Associations
  • Mobile Home Parks
  • Planned Unit Developments
  • Property Owner Associations
  • Residential Condominium Associations
  • Retail Associations

Restricted Classes


  • Condo-hotels
  • Master Associations
  • Rental Associations
  • Timeshares

Eligible Vehicle Types


Trucks

Trailers

Vans & PPVs

Liability Coverages


GENERAL LIABILITY

  • Each Occurrence Limit: Up to $2,000,000
  • Damage To Premises Rented To You Limit: Up to $1,000,000
  • Medical Expense Limit: Up to $10,000
  • Personal and Advertising Injury Limit: Up to $2,000,000
  • General Aggregate Limit: Up to $4,000,000
  • Products/Completed Operations Aggregate Limit: Up to $4,000,000
  • Deductible: $0 - $2,500
  • EBL per employee: Up to $1,000,000
  • EBL aggregate: Up to 2X per employee limit
  • EPLI annual aggregate limit: Up to $500,000
  • Hired and Non-Owned Auto Liability: Included in General Liability
  • Private Parking Lot: Included in General Liability
  • Liquor Liability Exclusion - Exception for scheduled Activities each common cause limit: Up to $1,000,000
  • Liquor Liability Exclusion - Exception for scheduled Activities annual aggregate: Up to 2x each common cause

DIRECTORS & OFFICERS LIABILITY

  • Annual Aggregate Limit of Insurance: Up to $5,000,000
  • Deductible: $0, Prior acts coverage available
  • Monoline available with full prior acts as an option
  • Defense outside the limit
  • Defense Costs Coverage for Breach of Contract claims
  • Coverage for Non-monetary claims
  • Qualified consent to settlement provision - (Hammer Clause)
  • Unlimited Extension (for claim reporting endorsement)
  • Automatic Coverage for the Property Management Company

PROPERTY

  • Building: Up to $12,500,000; Valuation: Replacement Cost; Cause of Loss Form: Special; Co-Insurance: N/A
  • Business Income & Extra Expense: 12 months Limit; Valuation: Actual Loss Sustained
  • Deductible: $500 - $2,500
  • Equipment Breakdown: Applicable property limit
  • Water Back-Up and Sump Overflow: Up to $100,000
  • Ordinance or Law
  • Loss to the Undamaged Portion: Building Limit
  • Demolition Cost: Up to $1,000,000
  • Increased Cost of Construction: Up to $1,000,000

UMBRELLA LIABILITY

  • Umbrella Liability Each Occurrence Limit: Up to $5,000,000
  • Personal and Advertising Injury Limit: Up to $5,000,000
  • Umbrella Liability Aggregate Limit: Up to $5,000,000

Underwriting Guidelines


Additional Coverage Options


Submission Requirements


  • ACORD Application, fully completed and signed
  • Supplemental Application
  • 3-5 Years of Loss Runs
  • Send submissions to quotes@ospreyuw.com