Condo insurance provides protection where condo associations do not. Condo and town house coverage protects everything inside the 4 walls including personal property, flooring, cabinets, appliances, furniture, anything attached inside, including interior walls. If you plan on upgrading your unit, any improvements you make will also be covered under your policy, including wall units, renovations and wallpaper. Please ask about Loss Assessment coverage, to cover you from losses that occur with the HOA. The HOA can asses each owner, for a loss they pay on, so make sure you’re covered.
Condo vs Homeowners Insurance
The needs of a condominium property owner is different from the needs of a single family detached property homeowner.
As an individual condo owner, you also share ownership in the common areas and overall structure of your building. If shared areas need upkeep and maintenance, your association will typically handle the expenses through the insurance package for the condominium complex. Although your association dues help pay for upkeep of the common areas, they do not typically cover your personal property within your unit, or your liability if someone is injured on your property.
Condo insurance provides protection where condo associations do not. Condo and town house coverage protects your possessions within your unit, including furniture, appliances, kitchen and bath facilities and your personal items. If you plan on upgrading your unit, any improvements you make will also be covered under your policy, including wall units, renovations and wallpaper.
If you would like to feel more secure, you should look into purchasing a condo or town house insurance plan through Ensign and Associates. Contact us and we will make sure you are the right coverage at the right price.
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