Recommended Homeowners Insurance

It is important that all residents purchase and maintain adequate Homerowners Insurance.

When residing within a Cooperative or Condominium, Shareholders or Owners are responsible for everything from the walls in.

While it is up to each resident to consult with their own Insurance Agent as to what the appropriate amount of coverage is for their individual needs, we are offering the following as a suggestion to consider.

• Personal Property/Contents – suggested minimum coverage                                     $25,000
  • This represents the funds that will be made available from the insurance

company to restore your personal property and contents.

• Dwelling/Improvement & Alterations – suggested minimum coverage                     $25,000
  • This represents the funds needed to replace items that are attached

to the building such as the tub, toilet, cabinets and flooring.

• Additional Living Expense in case of a claim - recommended minimum coverage   12 months      
  • This represents the funds the funds to houe you and your family while

your apartment is being restored.

• Liability Coverage – suggested minimum coverage                                                   $500,000
  • This represents the security and legal defence if sued by another

shareholder or an insurance company for damages.