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Glossary > Insurance > Homeowners Insurance > Condo Insurance
Legal Disclaimers

Improvements And Betterments

Improvements and Betterments refer to enhancements or upgrades made to a property or unit that increase its value or utility. These improvements are typically initiated by the owner and are not part of the original construction of the property.

Example #1

Installing a new kitchen with modern appliances in a condo, adding a swimming pool to a backyard in a home.

Misuse

Misuse of Improvements and Betterments coverage may occur if the value of the improvements is understated or not accurately reflected in the insurance policy. This can lead to inadequate compensation in case of damage or loss.

Benefits

Having proper Improvements and Betterments coverage ensures that the homeowner or condo owner is adequately protected in case the enhancements they have made to the property are damaged or destroyed.

Conclusion

Understanding and accurately assessing the value of Improvements and Betterments is crucial for homeowners or condo owners to ensure adequate coverage and protection for their property enhancements.

Related Terms

Homeowners InsuranceDwelling CoverageProperty Damage

Last Modified: 4/29/2024
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