Sherzer Insurance Blog
Condo insurance is a policy that safeguards and protects you from repair expenses and losses for a particular condo unit. This type of coverage typically protects you against vandalism, water damage, theft, and fire damage, to name a few.
Condominiums are a great substitute or alternative to owning a single home or renting an apartment or townhouse, and that is why it has its one-of-a-kind and unique insurance needs and requirements.
Why Do You Need Condo Insurance?
Condo insurance will come in handy even if your condominium association has its policy and coverage because their insurance coverage might cover the commonly owned property, the building itself, and the liability insurance for the condominium association.
Unfortunately, there are plenty of cases where the condominium association insurance policy will not cover you and your belongings, such as break-ins, someone getting injured because they slipped on your wet floor, or water damage to your kitchen.
That is why you need to have condo insurance designed and created especially for co-op owners or your condo.
Condo policies safeguard your personal property and even the interior of your unit. You will also have liability protection for property damage to other people or even bodily injuries.
What Does Condo Insurance Cover?
The articles and basics of the condo association and state laws determine and impact what is covered under the association's master insurance coverage.
In many cases, the association's policy ends after the exterior walls, which means you are liable for the interior walls and perhaps the furnishings and fixtures, in addition to your liability and other personal properties.
This is where your condominium policy would come in handy. Most insurance policies will consist of coverages for losses originating and stemming from:
Condominium unit owners should always apply for their insurance coverages for that extra financial support in the event of unfortunate instances and their peace of mind. During hard and trying times, those who purchased condo insurance will be happy they did so, while those who opted not to get this type of coverage will end up regretting their decision.
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.