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When buying insurance, it is key that you get an explanation, preferably in writing, from a broker when/if the policy uses any of these terms, to satisfy yourself that you're buying the coverage you need/ want.

Here's one interpretation of the terminology, which is not standard:

  • 'Betterments and improvements' tend to suggest upgrades of existing fixtures, equipment, appliances and so forth.
  • 'Additions and alterations' tend to suggest adding something, such as a new deck or a new bathroom -- addition or alteration to a space used in the past for some other purpose. These terms are most commonly used in commercial policies, but not unheard of in condominium policies.
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Q: What is the difference between betterments and improvements and additions and alterations in a condo policy?
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What makes up betterments and improvements in a condominium?

This terminology may be being used relative to a master insurance policy and coverage. One definition might be that betterments and improvements could be upgrades to existing fixtures, equipment, appliances and so forth. This is to distinguish these investments from 'additions and alterations', which could be adding a patio or converting a closet to a bathroom, for example. If your question involves insurance, best practices dictate consulting with your broker or carrier to fully understand their definition of these terms. Regardless of who's using the terms, they should define them for you so that you can fully understand them in the context of your situation.


What kind of home improvement work do single-family home contractors do besides construction?

Improvements consisted of additions and alterations to existing structures involving major interior and exterior changes.


What are betterments and improvements in a condo policy?

Two types of insurance cover condominiums:A master policy that insures the common areas, andAn individual unit owner's policy that insures the interior of a unit and its contents.Betterments and improvements apply to the interior of units, and may include upgraded or new, (and which will remain with the unit upon any sale):paintcarpetsappliancescabinetrybathroom furnishingsbuilt-ins, such as a libraryinterior doorsSome master policies cover 'betterments and improvements'; some do not.Best practices indicate that when betterments and improvements are added to a unit's interior, these enhancements must be documented, including receipts, photographs and so forth. Send a copy of these documents to the property manager, so that they become a permanent part of your unit's history.Lacking any documentation, when any claim is made against either policy for betterments and improvements, they will not be covered and the unit will be restored to its original -- as new -- condition, lacking your upgrades and additions.Finally, when it is time to sell, you can showcase your upgrades and additions, which may give you an edge should more than one unit like yours be available for sale in your market.


What is capital addition clause?

Capital Addition ClauseThe insurance hereby extends to cover alterations, additions and improvements (but not appreciation in value) in excess of the sums insured to property specified in the Policy for an amount not exceeding 10 % of the sums insured thereby or an amount specified in the policy whichever is the less, it being understood that the Insured undertakes to advise the Insurer each quarter of such alterations, additions and improvements and to pay the appropriate additional premium thereon. Regards,Muhammad Ali HashmiUnderwriter


What does alterations and additions mean on a condo insurance policy?

Usually, alterations and additions to the interior of a condominium unit means changing the interior of a unit by turning a closet into a study or nursery, for example, or adding a half-wall in a great room. Otherwise and without alterations and additions, the condominium unit is described as the builder built it and finished the interior. NB: During the period when alterations are being performed, it's a good idea to check with your HO-6 policy agent and the association's master policy agent to verify that you have insurance coverage for any incidental damage that occurs during construction.


What is in the Construction section of the NAICS?

Erecting buildings and engineering projects (e.g., highways), including new work, additions, alterations, or maintenance


What has the author J McCully written?

J. McCully has written: 'Letters by a farmer: Originally published in the Belfast Evening Post; with several alterations and additions'


Are appliances capital improvements?

I had the same question and I found this on another web site "Improvements, on the other hand, include things like a new roof, new carpets, new appliances, new additions, a remodeled kitchen, etc." So, yes, new appliances are capital improvements.


What does the single-family housing construction industry industry consist of?

The category covers general contractors primarily engaged in construction activities (including new work, additions, alterations, remodeling, and repair) of single-family houses.


What has the author W H Woakes written?

W. H. Woakes has written: 'A catechism of thorough bass ... to which is prefixed, with great additions and improvements, A catechism of music and a copious dictionary of musical phrases'


How do you spell humantashin?

The closest match is the spurious term humanitation, which is not an English word.Similar words are-- humanitarian (seeking to aid those in need)-- habitation (living in a certain place)-- augmentation (improvements or additions to a program or product)


What decline in the demand for carpentry service was commensurate with the housing market slump?

Once thought to be recession-proof, the residential repair and remodeling (R and R) market declined by 8.7 percent during 1991. Spending for additions and alterations dropped the most, by 17 percent.