WHAT IS CONDO INSURANCE?
Also known as an HO-6 policy, the condo insurance coverage goes beyond your condo association policy. It protects the interior of your individual unit, your belongings and provides personal liability protection.
WHY DO I NEED CONDO INSURANCE?
Condo owners face similar risks as homeowners such as fire, theft and law suits for causing injury or property damage to others on their property. The main difference is that the association is responsible for the outer building and common areas whereas the condo owner is responsible to insure the inner structure and their personal belongings within. The insurance that associations have, also known as master policy, normally does not cover damages that occur inside your unit. In other words, condo insurance covers what your association doesn’t. That is why it’s important to have a condo policy that covers the interior of your structure and your personal property.
WHAT DOES CONDO INSURANCE COVER?
Condo insurance protects your unit from the walls in, such as flooring and ceiling coverings. It also covers attached fixtures like countertops and cabinets. In addition, your personal belongings such as furniture and clothes can be covered. It is important to list expensive items to be properly insured. Examples of such items are jewelry, fur, art, antiques and musical instruments. Last but not least, a condo policy provides personal liability protection if someone is hurt on your property.
Please contact Kevin Lee Company for additional questions or to get a customized quote.