16/04/2023
Notice of loss: What is the situation?
The life of the co-ownership is not only of interest to its owners and occupants, but also to their insurers. This is all the more true since it is known to all that condominium disasters are numerous: water leak, water damages, vandalism, fire, etc. Let's go back to the basics of property insurance. The Syndicate is required to take out insurance covering the common portions, the private portions (excluding improvements made to them) and movable property belonging to the syndicate. As for the improvements that have been made to the units, it is up to each co-owner to protect them with individual insurance, both those made by the previous owners and theirs. Finally, it is generally required (if only for the protection of co-owners) that tenants are also insured with respect to their movable property....