What You Need To Know About Condo Insurance
Owning a condo allows you to have more room than living in an apartment, without having to deal with the hassle of tons of yard work. Since condos are a special category of the real estate market, they have special insurance requirements.
When you buy a condo, you are joining a homeowners association, or HOA, that comes with its own insurance. However, the insurance that is part of your HOA will not provide enough coverage for any unfortunate situation. When looking for the right condo insurance policy, it is important to make sure to find the right one that will work with your HOA insurance.
Typical condo insurance policies provide coverage for many situations, including:
- Personal property – which will replace any of your assets that are stolen or destroyed in a covered peril, such as a fire. Personal property coverage will also provide coverage for your belongings if you take them on vacation with you.
- Personal liability – which will provide coverage for medical bills if someone is injured while visiting your condo. It will also provide coverage if you injure another person while you are away from your home.
- Damage to unit structure – since you own everything inside of your condo, including the ceilings, carpeting, and countertops, make sure that they are all protected with the right damage to unit structure coverage.
- Additional living expenses – which will provide coverage for living expenses and relocation expenses if your condo is uninhabitable due to a covered peril.
For all of yourÂ
condo insurance needs and to ensure that you have the right amount of coverage,Â
contact the insurance experts at Cook, Disharoon & Greathouse in Oakland, California. We can help with all of your Northern California insurance needs to make sure that you have the right amount of coverage, all at the right price.
