In March 2011, our Town Hall meeting discussed Insurance for our Coops. The following article is from Cooperative Magazine, a free monthly magazine for Coops. We have excerpted this article below with commentary in red which is specific to Concord Village.
Vive La Difference - Co-op versus Condo Insurance
By Meryl Feiner
If an electrical fire destroys your newly renovated kitchen, will your co-op pay to replace your space-age stove and slate countertops? If a pipe bursts in your condo and your $10,000 wallpaper is ruined, who pays to fix it? The answers to questions like these may lie in your building's underlying documents and should be considered when buildings and individual unit owners are purchasing insurance.