Transcription of DIVISION V DWELLING PROGRAM A. DWELLING …
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DIVISION V DWELLING PROGRAM A. DWELLING …
_____ South Carolina Wind & Hail Underwriting Association Rules, Rates, & Procedures Manual DIVISION V - 1 September 1, 2014 DIVISION V DWELLING PROGRAM A. DWELLING ELIGIBILITY -- Risks eligible for the DWELLING PROGRAM are used solely for residential purposes. 1. The maximum coverage available for any one DWELLING is $1,300,000. This limit includes coverage for the structure, contents, loss of use and increased cost in construction. 2. Dwellings, townhomes (regardless of the number of adjoining units) and condominium-unit owners (regardless of the number of individual units in a building) are eligible for the DWELLING PROGRAM . a. Condominium ownership The owner has title to the inside space of his unit. The legal definition is: The absolute ownership of a unit based on a legal description of the airspace the unit actually occupies, plus an undivided interest in the ownership of the common elements, which are owned jointly with the other condominium unit owners.
South Carolina Wind & Hail Underwriting Association Rules, Rates, & Procedures Manual Division V - 1
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