As a condo owner, you may not realize how close you could be to losing everything in a fire or other disaster. Condo associations’ master policies usually fall short of insuring the losses and liabilities that may occur inside your living space. Rather than finding out the hard way, signing up for condo insurance today is an affordable way to fill these gaps in insurance.
Whether you are at home or away, condo insurance can give you peace of mind seldom found anywhere else.
It will protect the value of your personal property if it’s damaged or destroyed. It also offers you liability protection if there is an injury on your premises, or you have caused damage to the property of others.
Most associations now require each owner to have condo insurance. Or, if you’re financing your condominium, your lender may require it as well.
Windstorm of hail
Limited water damage
Damage to the property belonging to other residents
In any of these situations, your insurance company may reimburse you for personal items, such as expensive jewelry and fine china, which have been stolen, damaged or ruined
In addition, any alterations or improvements you have made to your living space are also insurable. Or, if you need to stay elsewhere during repairs, you may be reimbursed for your housing expenses.
Sign up for condo insurance today to prevent yourself from sustaining avoidable financial losses.