The Commercial Property Policy for Residential Condominiums is designed to cover incidents that affect the common interests of the owners.
Having the right insurance can make a big difference. We know the risks that your property is exposed to and we keep them in mind in designing our policies so that we can offer you greater peace of mind.
This policy covers the specific needs to ensure the satisfaction of the Property Owners Association.
- Single-line policies (Single-line Property)
- Commercial Package Policies, which allow adding Commercial General Liability coverage to the property line
- Single-line policies (Single-line Property)
- Commercial Package Policies, which allow adding Commercial General Liability, Crime and Inland Marine coverage
- Real estate property or furniture of the Property Owners Association
- Common property (e.g., hall, hallways, recreational areas, among others)
- Fire
- Theft
- Vandalism
- Lightning
- Hurricane
- Earthquake
- Flood
- Commercial General Liability
- Others
At USIC, we create products aimed at satisfying the needs of the Property Owners Association, covering all the common, public, and limited common areas. Our policy provides solutions that serve to comply with the responsibilities and duties stipulated under the Puerto Rico Condominium Act.
- Single-line policies (Single-line Property)
- Commercial Package Policies, which allow adding Commercial General Liability coverage to the property line
- Real estate property or furniture of the Property Owners Association
- Common property (e.g., hall, hallways, recreational areas, among others)
- Fire
- Theft
- Vandalism
- Lightning
- Hurricane
- Earthquake
- Flood
- Commercial General Liability
- Others
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What are the requirements to evaluate the underwriting of a case?
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To evaluate the registration of your case we will need:
- Updated valuation (no more than two years from its issuance)
- Detailed loss history
- Risk specifications
- Can the risk be submitted directly to USIC? + No, all condominium risks are managed exclusively by General Agencies that are appointed to USIC.
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What are the additional covers that USIC offers?
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USIC also offers:
Commercial Policy Types for Residential Condominiums
- Municipal ordinances
- Debris Removal
- Pollutant Clean Up
- Equipment Breakdown
- Does USIC insure coastal condos? + Yes, USIC assesses all coastal risks.