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Welcome to Franklin Office Park Insurance Information
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General:
As a member of the Association you are required to have insurance to cover the contents of your property, interior space and any damages that might occur within that property.
The complex itself carries liability and property insurance as prescribed by our Bylaws, and required by the state of Maryland covering such matters as are common to the association. The Association current deductible on the master policy is $5,000.00.
Owners are instructed to carry enough real property coverage to cover the deductable, contents and the betterments*. As prescibed by Maryland law, the $5,000.00 deductable would be required from you, as the unit owner if there was a claim involving the Association’s Insurance in reference to your property.
You should contact your insurance agent annually for a careful review of your insurance needs. You should be advising your tenants to insure their office contents.
*Betterments are improvements that you have made to the property post the original build out of your space. For example but not restricted to, if you installed kitchen cabinets, added walls, hardwood floors etc. those need to be covered by your policy.
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Franklin Office Park • 1500 Block of Crabbs Branch Way in Rockville, Maryland Home / Members Only / Sales Lease / Contact Management |