Condominium Optional Endorsements
Condominium Optional Endorsements add additional coverage to your insurance policy and can be tailored to fit your needs. Below is a list of common optional endorsements for condominium policies offered at Armed Forces Insurance:
- Replacement Cost Coverage (RCC)
RCC changes the loss settlement for unscheduled personal property from Actual Cash Value payment (cost to replace less depreciation) to Replacement Cost (the amount you actually pay to replace the item with a new item of like kind and quality).
- Special Computer Coverage
Special Computer Coverage expands the types of loss for which computer equipment is covered. This endorsement does not increase the limits of Personal Property Coverage and it excludes business computers. The Homeowner policy deductible applies to this coverage.
- Earthquake Coverage
Earthquake Coverage provides coverage for damage from an earthquake (including land shock waves or tremors before, during, or after a volcanic eruption) for the dwelling, other structures, and personal property. The earthquake endorsement includes a special deductible which is usually equal to 10% of the coverage limit. This deductible applies separately to each category of coverage.
- Loss Assessment Coverage
Loss Assessment Coverage increases the coverage limit of liability for covered losses assessed against you by your homeowner or condo association. Check with your association for the amounts that can be assessed against you to ensure you are properly covered.
The optional endorsements listed above are only a sampling of the endorsements that are available through Armed Forces Insurance. If you have a unique insurance need or situation that requires additional coverage, contact our agents at 800-495-8234 to discuss your needs.
Policies and endorsements vary by state. Limits and conditions also vary and our agents can assist you with your questions.
*All policies and endorsements are subject to underwriting approval. Coverages, deductibles, limits, and discounts vary by state.