Condominiums are costly investments, and condo insurance is critical protection for that investment. Condo insurance helps cover damage or loss to the inside of your unit, including walls, floors, and built-in appliances like a dishwasher or refrigerator. Depending on the type of policy you have, condo insurance can help pay for repairs due to fire, water damage, theft, vandalism and more.
Why You Need Condo Insurance
When you own a condominium, your homeowners association (HOA) insurance will typically cover the building’s structure and common spaces inside and outside, such as an exercise room or swimming pool. But HOA policies do not cover the damage to your unit itself – for that you need condo insurance.
Condo insurance can also help with protecting your personal belongings, like furniture and clothing, and can be used to pay for additional living expenses if you need to relocate temporarily due to an unforeseen event that renders your condo temporarily unlivable.
Keep in mind that the amount of coverage depends on what type of policy you have, so it’s important to review your condo insurance policy thoroughly to make sure you understand exactly what’s covered and what isn’t.
Overall, condo insurance provides financial protection and peace of mind that will allow you to enjoy your investment without worry.
Setting Up Your Condo Insurance
If you have questions regarding your condo insurance, or if you want to know which coverage options your condo is most likely to need, we can help. Consultations on condo insurance are always free of charge, so don’t hesitate – call us at the number above or click on the quote button to connect with our team.
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