Condominium Coverage
The following brief descriptions of coverage are provided to assist you in understanding the various coverages available to you through Wawanesa Insurance. All coverage provided by any Wawanesa Insurance Policy is subject to the actual policy wording, endorsements, and declaration page(s) and all terms, conditions, limitations and exclusions therein.
We offer one of the most comprehensive Homeowners Protection Programs for your insurance dollar. Some important program features included in our policy at no additional costs are:
REPLACEMENT COST ON CONTENTS ... guarantees that most of your personal property will be replaced at current replacement cost. Items such as antiques, memorabilia, fine arts... will be settled at actual cash value.*
SPECIAL COVERAGE FOR DWELLING ... Broadens and provides increased protection for your dwelling.
INFLATION GUARD... helps to keep your limits of insurance equal to the current replacement value of your personal property.
* Replacement Cost on Contents does NOT APPLY to damage from the peril of Earthquake, if coverage for Earthquake is selected.
Make a Selection:
Basic Protection- Coverage A - Dwelling
- Coverage C - Personal Property
- Coverage D - Loss of Use
- Coverage E - Personal Liability
- Coverage F - Medical Payments to Others
- A. Increased Limits
- B. Scheduled Property
- C. Limited Earthquake Coverage - California
- D. Credit Card, Fund Transfer Card, Forgery & Counterfeit Money
- E. Loss Assessment Coverage
- F. Other Coverage Options
BASIC PROTECTION
The basic Coverage A - Dwelling limit is 10% of your Personal Property limit. This provides coverage on additions, alterations, appliances, fixtures and improvements which are part of your building and not covered by your association's policy. Limits can be increased in increments of $1,000 up to a maximum of $210,000 @ only $1 per $1,000. If Earthquake coverage is selected, please contact us for the additional premium.
We strongly recommend that you read the Association's Covenants, Conditions and Restrictions (CC&Rs) which should state the insurance responsibilities of the association and the unit owner. Most condominium associations insure the building's structure and common areas, but each unit's interior is the responsibility of the unit owner.
If your Homeowner's Association is not responsible for insuring the interior of your unit, you, the unit owner, need to insure everything inside the unit such as cabinets, built-in appliances, flooring, counter tops, interior partitions, bathroom and kitchen fixtures, and other improvements. Your Homeowner's Association may also not cover improvements made by you (or a previous owner) to your unit such as upgraded carpet or upgraded counter tops.
Coverage C - Personal Property
The contents of your unit are protected up to a limit of your policy. Special limits for certain items of personal property are:
1. $200 on money, bank notes, bullion gold other than goldware, silver other than silverware, platinum, coins and medals.
2. $1,000 on securities, accounts, deeds, evidences of debt, letters of credit, notes other than bank, manuscripts, passports, tickets, and stamps.
3. $1,000 on watercraft, including their trailers, furnishings, equipment and outboard motors.
4. $1,000 on trailers not used for watercraft.
5. $1,000 for loss by theft of jewelry, watches, furs, precious and semi-precious stones.
6. $2,000 for loss by theft of firearms.
7. $2,500 for loss by theft of silverware, silverplated ware, goldware, goldplated ware and pewterware. This includes: flatware, hollowware, tea sets, trays, trophies made of or including silver, gold or pewter.
8. $2,500 on property, at the residence premises, used at any time or in any manner for any business purpose.
9. $250 on property, away from the residence premises, used at any time or in any manner for any business purpose.
10. $1,000 on portable electronic equipment that can be powered by an automobile, while in or upon a vehicle.
11. $1,000 on portable electronic equipment used for business, that can be powered by an automobile while not in or upon the vehicle or at the residence premises.
Certain personal property category limits may be increased. Please refer to the Optional Coverage Section.
This provides coverage for additional living expenses should a covered loss cause your unit to be uninhabitable. We cover necessary additional expenses so that you can maintain your household at its normal standard of living for up to 12 months.
Coverage E - Personal Liability
If a claim is made or a suit is brought against you for damage because of bodily injury or property damage (to which this coverage applies), we will pay, up to our limit of liability for the damage.
Coverage F - Medical Payments to Others
We will pay the necessary medical expenses, (to which this coverage applies), up to our limit of liability, for which you are liable as a result of an accidental injury to others.
Workers Compensation
Required by California state law, this coverage applies only to non-business pursuits. Occasional employee coverage is automatically provided for each employee who works less than ten hours per week, and whose duties are incidental to the ownership, maintenance or use of the residence; i.e., baby-sitter, gardener, housecleaner, etc..
Other Basic Coverages
We will pay reasonable costs incurred by you, up to our coverage limit, to prevent further damage such as removal of debris and fire department service charges incurred to protect the property.
Optional Coverages
Our policy provides the necessary protection for most condominium owners. There may, however, be a need for the extra coverage, provided on an individual basis, by an optional coverage.
Extended coverage is available, subject to individual item and aggregate limits, to increase the basic overage limits, on a blanket basis for:
1. Jewelry, Watches and Furs
2. Silverware, Goldware and Pewterware
3. Firearms
4. Money
5. Securities
Specific items, in the following categories, can be scheduled on an individual basis and insured to their current appraised value:
1. Jewelry
2. Furs
3. Musical Instruments
4. Silverware
5. Golf Equipment
6. Fine Arts (with or without breakage coverage)
7. Cameras and Photographic Equipment
8. Stamps
9. Coins
C. Limited Earthquake Coverage - California
The basic policy does not automatically provide coverage against the peril of Earthquake. Limited coverage, on an actual cash value settlement basis, is offered on every condominium policy. Dwelling coverage is limited to the amount of coverage provided under Coverage A - Dwelling on the basic policy. Personal Property coverage is limited to $5,000. Additional Living Expenses is provided but limited to $1,500. Replacement Cost on Contents Coverage does not apply and this optional coverage is subject to a deductible limit equal to 15% of the coverage limit on your dwelling or Personal Property limit of $5,000, whichever is greater.
D. Credit Card, Fund Transfer Card, Forgery & Counterfeit Money
The basic policy limit of $500 coverage for losses created by your legal obligation to pay because of theft or unauthorized use of credit or fund transfer cards, check forgery or the good faith acceptance of counterfeit money can be increased up to $10,000.
The basic policy provides up to $1,000 of coverage for your share of assessments charged against you by a corporation or association of property owners for a peril covered under our policy. This limit can be increased up to $15,000. This does not cover loss assessments arising from earthquakes, even if Limited Earthquake Coverage is provided on the policy.
We have other coverage options available to meet your individual needs. These include:
1. Increased Limits on Money and Securities
2. Business Pursuits Protection
3. Permitted Incidental Occupancies - Residence Premises
4. Increased Limits on Business Property
5. Increased Limits on Other Structures
6. Ordinance or Law Coverage