As a condo owner, it is critical to review and coordinate your ‘Unit Owner’ coverage with what is provided by your condo association’s master insurance policy.
In most cases, an association’s master policy will insure against the association’s liability as well as damage to the property’s common buildings and structures. These typically include the exterior walls, roof, floors, and elevators, and miscellaneous exterior fixtures like sidewalk lamps.
As a condo owner, you are then left responsible for insuring items such as appliances, carpeting, cabinets, wall coverings, personal property in the unit, and any value-added alterations that you make to the unit at your own expense (for instance, installing a better-quality carpet or flooring than that which came with the unit).
In addition to covering one’s personal property (furniture, clothing, etc.), a Condo Owners policy should be crafted to provide coverage that is not provided by the condo association’s master policy.
- Have you reviewed your Unit and Master Deed?
- Do you know what building sections that you are responsible for insuring?
- What is Loss Assessment?
- Do you have ‘Loss Assessment’ Coverage?
- Do I have ‘special form’ coverage on my alterations and improvements?
Atchue Insurance has years of experience with condo coverage and can assist you through this process to make sure you get the proper coverage for your situation.
Call Atchue Insurance today for a comprehensive review and competitive Condo Coverage rate quote! Be sure to ask about discounts on your Condo insurance and Car insurance when we write both coverages!