Quote:
Originally Posted by WilsonFourTwo
As a condo owner, this is my number one fear.....even more than Carnival Folk.
Insurance covers fire, theft, vandalism (etc), but builder incompetence and negligence isn't something you can prepare for.
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Thats not totally true. In a number of condo policies there are actually provisions for special assessments. You might have coverage for a portion (or unfortunately none at all), but its obviously worth a look to see if you are on the hook for that kind of money.
In that case the insurer would also try to subrogate against the contractor/developer.