Published: February 20, 2014

Are you looking for affordable Condominium Association or Apartment Complex association insurance, Philadelphia has a great market.  Many insurance companies are moving away from mult family insurance in Colorado because they have been hit hard by hail the last few years.  So, finding coverage can be tough.

Key Benefits

Property

  • Special Causes of Loss coverage on buildings, contents, loss of income, and extra expense
  • Blanket limits with large in-house capacity
  • Ordinance or Law, Demolition, and Increased Cost of Construction coverage included – $300,000 (higher limits available)
  • Definition of building to include swimming pools, pool houses, tennis courts
  • Business Income coverage – Actual Loss Sustained
  • Back-up of sewers and drains
  • Multiple valuation options available (Guaranteed Replacement Cost, Extended Replacement Cost, Agreed Amount)
  • Unit owner improvements if required by the association documents
  • Pollutant clean-up and removal – $35,000
  • Boiler and Machinery coverage available
  • Flood and Earthquake coverage available

Crime and Fidelity

  • Employee Dishonesty
  • Forgery or Alteration limits available up to $1M
  • Theft, Disappearance, and Destruction
  • Real Estate Manager coverage available
  • Computer Fraud

 

General Liability

  • Comprehensive General Liability – limits to $1M per occurrence/$3M aggregate
  • Condominium unit owners as additional insureds
  • Liability for common areas including swimming pools, tennis courts, lakes, playgrounds, etc.
  • Real estate property managers included as additional insureds
  • Employee Benefits Liability available
  • Special Events coverage available for large community events

Risk Management Services

  • Product specific web-based Risk Management Services solutions through PHLY.com/RMS
  • Free online interactive Defensive Driver Training course and examination
  • Regular e-flyer communications on current Risk Management Services issues and Large Loss Lessons Learned
  • Strategic partnership with best-in-class vendor for discounted background & motor vehicle record (MVR) checks