If a spy balloon fell on your hoa


We asked insurance professional Dawn Becker-Durnin:

If a spy balloon fell and damaged association common property, would it be covered by insurance?

Dawn responded, “It depends! For Property coverage, falling objects are covered under specified causes of loss (special form or all risk property policies); however damage to the interior will be excluded unless the roof or an outside wall of the building or structure is first damaged by a falling object. If an Automobile is hit, then comprehensive is the key coverage to have.”

 “Special Causes of Loss Form — one of the three Insurance Services Office, Inc. (ISO), commercial property insurance causes of loss forms. Causes of loss forms establish and define the causes of loss (or perils) for which coverage is provided. The special causes of loss form (CP 10 30) provides what is referred to as all risks coverage: coverage for loss from any cause except those that are specifically excluded. The other two ISO causes of loss forms (the basic causes of loss form and the broad causes of loss form) provide what is referred to as named perils coverage: coverage for loss from only the particular causes that are listed in the policy as covered.”

Dawn Becker-Durnin • PeopleFirst Property & Casualty • (843) 492-6900

dawn.becker-durnin@insurepeoplefirst.com • www.HOAInsuranceSC.com