area property and liability insurance which is assessed separately
based on annual premium. This is
based on coverage required in by-laws.
Insurance year runs May 7 -May 6.
The insurance is billed monthly to the unit owners.
There is a no lump-sum payment or annual catch-up charge payable by the unit owner. Owner responsible for obtaining Condominium Owners Policy for the unit contents, improvements and betterments, loss of use and personal liability coverage if needed.
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