Bare walls coverage

{
  "id": "MLC-T-INS-000525",
  "term": "Bare walls coverage",
  "field": "Insurance and risk management",
  "definition": "An insurance policy that covers only the structural elements of a building, such as the exterior walls, roof, foundation, and common areas, but excludes coverage for interior finishes, fixtures, or personal property within individual units. This type of coverage is common in condominium or cooperative associations, where individual unit owners are responsible for insuring their own interiors. It is also known as 'studs-out' coverage.",
  "url": "https://mlchart.com/terminology/insurance/bare-walls-coverage/"
}