We have several owned, but rented out condominium units insured with a BP 00 03 07 02. Each unit needs $100,000 in interior structure coverage to cover finished walls, flooring, additions, and alterations due to an all-in master policy with a $100,000 water loss deductible.

If there is a water claim within the owner's unit under the BP 00 03 07 02 policy, would the BP 17 03 07 02, Condominium Commercial Unit-Owners Optional Coverages endorsement, cover the loss?

Massachusetts Subscriber

The BP 17 03 form states that condominium property that is not included under business personal property and pertains to the insured's condo only or that the insured has a duty to insure according to the condo association agreement is added to covered property if a limit of insurance is shown in the schedule and the unit is described in the schedule. So, yes, if the units meet the criteria listed, items that are not considered business personal property would be covered by the endorsement.