This coverage provides insurance protection against direct physical loss or damage to property owned by the House Corporation.
Coverage extends to buildings, contents including Electronic Data Processing (EDP) equipment and Fine Arts, Loss of Income, and Extra Expense.
Replacement Cost protection is provided for buildings and contents. Actual Loss Sustained protection is provided for Loss of Income and Extra Expense. Fine Arts such as silver, jewelry, paintings and items of rarity or historical nature are protected for Market Value, without requirements for schedules or specific valuations.
** Tenant’s personal property including bikes and cars are not covered under the Property Insurance Coverage. All Tenant’s are encouraged to purchase a separate Renter’s Insurance policy or check to see if their parent’s homeowners insurance policy will cover personal articles of the tenant.
Building Codes or Law & Ordinance Coverage provides insurance protection for the costs of compliance with such areas as A.D.A., Life Safety Codes or Sprinkler Ordinances, when they are triggered by insured losses.