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Coverage for Condominium Buildings and Unit-Owners

Summary: The AAIS commercial property program includes forms to cover condominium buildings (CP-19) and commercial condominium unit-owners (CP-21). As described earlier see AAIS Commercial Property Program ; the AAIS program uses a modular approach. In this case the appropriate condominium form is combined with a perils part, conditions, and endorsements to form a policy.

The pages that follow describe the general features of the condominium coverage parts.

Topics covered:

Insuring agreement and covered propertyProperty excluded and limitationsAdditional coveragesPerils Supplemental coveragesLoss conditionsValuation How much we payLoss paymentCommercial property coverage conditions, CP-100Other conditionsCoverage for unit-owners

Insuring Agreement and Covered Property

We cover direct physical loss to covered property at the premises described on the declarations caused by a covered peril.


We cover the following types of property for which a limit is shown on the declarations.


This means buildings and structures described on the declarations, including:

1. completed additions;

2. fixtures, machinery, and equipment which are a permanent part of the described building or structure;

3. outdoor fixtures;

4. personal property owned by you and used to maintain or service the described building or structure or its premises, including air-conditioning equipment; fire extinguishing apparatus; floor coverings; and appliances for refrigerating, cooking, dish washing, and laundering;

5. if not covered by other insurance;

a. additions under construction, alterations, and repairs to the building or structure; and

b. materials, equipment, supplies, and temporary structures, on or within 100 feet of the described premises, used for making additions, alterations, or repairs to the building or structure.

6. the following property contained within a unit, regardless of ownership, if required by your Condominium Association Agreement to insure:

a. fixtures, improvements, and alterations that are a part of the building or structure; and

b. appliances for refrigerating, cooking, dishwashing, laundering, security, or housekeeping.

This does not include personal property owned by, used by, or in the care, custody, or control of a unit-owner except as provided in paragraph 6. above.


This means your business personal property in the buildings and structures described on the declarations or in the open (or in vehicles) on or within 100 feet of the described premises. Unless otherwise specified on the declarations, this includes:

1. your interest in personal property of others to the extent of your labor, material, and services;

2. personal property owned by you or owned indivisibly by all unit-owners; and

3. leased personal property which you have a contractual responsibility to insure, unless otherwise insured by the Commercial Property Coverage under Personal Property of Others.

Your business personal property does not include personal property owned solely by a unit-owner.


This means personal property of others:

1. that is in your care, custody, or control; and

2. located in the buildings and structures described on the declarations or in the open (or in vehicles) on or within 100 feet of the described premises.

However, our payment for loss to personal property of others is only for the benefit of the owners of the personal property.


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