All condo owners should know that their responsibility for insurance doesn’t stop when the building’s maintenance fees are paid. Instead, they should also insure everything inside their units and everything in common areas, such as hallways and elevators, against damage or loss.
– Condo owners are responsible for insuring everything inside their units and in common areas, such as hallways and elevators, against damage or loss.
– Maintenance fees do not cover insurance; it’s the owner’s responsibility to have insurance.
– Condo insurance covers the same types of things as a homeowner’s policy, including living expenses if units are unlivable due to damage from, for example, a fire or flood.
– Condo insurance also covers damages to the building itself, as well as liability for any injuries that occur on the property.
There are many different types of condo insurance policies, so it’s important to discuss coverage with an insurance agent.
Our agency can help you determine which policies are available to you and make sure you’re fully protected against any damages to your property. If you’re a condo owner, it’s important to have insurance coverage in case of an emergency. Don’t wait for an accident to happen, call us today and let us help you protect your home.
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