Sometimes, we need a painful experience to prod us into doing what we should have done in the first place. On Oct. 1, 2007, a serious fire ravished a condominium building in the Adams Morgan section of Washington, D.C. Fortunately, it does not appear that there were any serious injuries, but many condominium owners and renters will now have to relocate until the building -- and the damaged units -- are restored. There was property loss, both in the common areas of the building and within those units where the fire occurred. And clearly there will be a lot of smoke and water damage to the personal property of many of the residents. Let's talk insurance: In every condominium and cooperative apartment building, there is what is known as the "master insurance policy." The legal documents gover...
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