5 Ways to Save on Condo Insurance

​As soon as you receive the keys to your condo unit, you’ve lost thousands of dollars already. The last thing you’ll ever need at this point is the electric bill and rental fee coming. This is where you can take advantage of condo insurance. If you don’t have condo insurance, expect that you need to cash out a large chunk by yourself. Here are five ways you can save on your condo insurance.

Raise Your Deductible
If you want to shell out more cash out of your pocket in case there’s trouble with your condo, then you can raise your deductible. The result is a lower monthly premium for your condo insurance. The most important thing is the premium that you can afford while you’re saving up in case something goes wrong. As long as you’re careful with your condo, then this can give you a lot of savings since you’re paying less.

Get a Bundle of Policies From the Same Insurer
You can bundle your condo insurance with a car insurance policy as well as a life insurance policy. You can get many policies from one insurance company. This can save you money in the long run because most insurers offer discounts for insurance bundles.

Keep a Clean Record
If you have a clean record with your condo, then you’ll eventually have lower insurance rates. What’s good is that you won’t have to worry about covering that much space. You can easily replace small problems from out of your pocket without having to ask for help from the insurance company. Keep the insurance rate low while saving the coverage for some big disaster in the future.

Get a Newer Place
When you're still considering your options for a place, choose something relatively new. You can save a lot on your condo insurance policy because the entire structure is newly built and furnished. This means that it is relatively safe from any danger that may arise from a dilapidated building.

Choose the Community Well
The kind of community in the condo that you’ve bought will determine whether you're going to get high or low rates. If you buy a dilapidated one and spend something for repairs, it will pay off with lower insurance rates. If the condo is in a dangerous neighborhood, then expect relatively higher insurance rates.

Some Final Words
You don’t have to spend that much on condo insurance. Get a newer place, spend some on repairs, and buy from a trustworthy location. The most important thing is that your condo insurance coverage will protect your investment as well as everything in it.

At Sherzer Insurance Agency, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (239) 673-9301 or Click Here to request a free quote.