Why do I necessitate home owner's insurance to rent clubhouse?
We have a clubhouse in our condo community that I looked-for to rent it for a party. Our management company asked to provide my home owner's insurance. AFAIU my condo insurance is supposed to cover the inside of my part. My question is why would they ask for something that has nil to do with the common property (clubhouse)?
Answers:
You don't. It's a short time ago the cheapest way to get liability coverage.
If someone falls, or drives drunk and kill someone else, they want YOU on the hook for it, not them. It's effectively a "risk transferrence" issue. Source(s): agent, 21+ years
Because most condo policies (& homeowners & renters policies) have worldwide liability & you renting a clubhouse (or reception hall or other similar place) would be covered by the liability on your condo policy. If you are unsure, ring your insurance agent & ask. They want to see that you have liability sufficient enough that hopefully they won't be brought into a lawsuit surrounded by case someone sued you due to your party. Source(s): Insurance agent
They want to see that you enjoy liability coverage in case you destroy the clubhouse. They could care less more or less your property coverage for the inside of your condo.
They also want to make sure that if someone is injured during the party you are covered if they sue.
Related Questions:
Answers:
You don't. It's a short time ago the cheapest way to get liability coverage.
If someone falls, or drives drunk and kill someone else, they want YOU on the hook for it, not them. It's effectively a "risk transferrence" issue. Source(s): agent, 21+ years
Because most condo policies (& homeowners & renters policies) have worldwide liability & you renting a clubhouse (or reception hall or other similar place) would be covered by the liability on your condo policy. If you are unsure, ring your insurance agent & ask. They want to see that you have liability sufficient enough that hopefully they won't be brought into a lawsuit surrounded by case someone sued you due to your party. Source(s): Insurance agent
They want to see that you enjoy liability coverage in case you destroy the clubhouse. They could care less more or less your property coverage for the inside of your condo.
They also want to make sure that if someone is injured during the party you are covered if they sue.
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