Condo Insurance

Owning a condo, one can be lulled into a false sense of security due to the presence of a Home Owners’ Association. It is easy to believe, however wrongly, that you do not need insurance since the HOA has its own policy. You would be wrong- An association’s policy does not offer full protection for your condo, and that means your personal belongings or any kind of cosmetic upgrades or personal touches added are all at risk. That is why it is important that you look into a condo owner’s insurance policy to ensure that you are protected in case of theft, damage, or loss.

An HOA’s policy will cover your condo’s interior and exterior walls, floors and the roof too. Any common outdoor amenities are also insured in this kind of policy. However what this type of policy does not cover is any work you have put into your home and the furniture and other personal items within. Knowing this, it is obvious why a condo owner’s policy can be so important as it takes care of that which is left out by the association policy and provides you with invaluable peace of mind.

A condo insurance policy can also protect you financially in the event of certain natural events, like hail, fire, lightning, strong winds and tornados, etc. But wait, there’re even more benefits to a condo owner policy like damage from theft or vandalism, problems arising from issues such as frozen or blocked pipes and more. Very importantly, if you rent out your condo unit as a vacation spot, then this insurance can save you financially if guests damage or even steal from the unit.

A normal condo owner insurance policy will not cover earthquakes or flood damage, however you can purchase extra coverage to protect you from these other events. If you live in a seismically active region or a low lying area prone to flooding then purchasing additional coverage is highly recommended. Assuming damage is not caused by you, the owner, you can be fully protected. Call today or visit us online to request more information regarding all the options available for the condo owner. The premiums paid over time are well worth the feeling of being protected and certainly, should you ever need the ploicy in the case of damage or some other issue, you will thank your lucky stars.