When shopping for new condo insurance, Completely Independent Insurance Agency offers various policy options to suit your specific wants and needs.
What is condo insurance?
Condo insurance, or condominium insurance, is a specialized insurance policy that the condo owner purchases. While the HOA usually covers condo buildings under an HOA master policy, the individual condo that you own also needs condo insurance.
When you have taken out a mortgage on a condo, the mortgage lender will almost certainly require that you have condo insurance. The best kinds of condo insurance ensure that they work with the HOA master policy to avoid redundancy or overlap in the plans. This way, you will not have to worry about overpaying on claims or getting confused in the process.
What kinds of claims does condo insurance cover?
While every policy is different, condo insurance covers anything related to property damage and other issues with condominium units. In the event of damage that is not the owner's fault, condo insurance can cover repairs and replacing certain parts of the condo and the contents of your condo in certain instances. If you lose your condo or the items due to a fire, natural disaster, or theft, you may recoup some losses by filing a claim with your condo insurance provider.
Why do we recommend getting condo insurance?
We recommend getting condo insurance because it is not only required by mortgage lenders but also gives the user a sense of reassurance that their condo will be covered in theft or disaster. It's always better to get coverage before you need it.
Call our office at Completely Independent Insurance Agency today for a free quote!