3 Things to Know About Condo Insurance

Condominium insurance is a policy that you can purchase to cover your unit and personal belongings within the property. This type of insurance is essential because it can cover problems not included in the homeowner’s association (HOA) master policy, such as theft or accidental injuries.

In some cases, state laws may require condo insurance. The cost of condo insurance will vary depending on your coverage, but it is typically very affordable. Contact your insurance company to apply for condo insurance. They will then be able to provide you with a quote and help you find the right policy.

It’s always a good idea to have insurance for your condo. But not all policies are the same. Here are three things to know about condo insurance before you buy a policy.

1) Make sure your policy covers your personal belongings. Your policy should protect your furniture, electronics, and other personal belongings in case of theft or damage.

2) Make sure your policy has liability coverage. If someone is injured in your condo, your policy will help protect you from financial damages.

3) You may need coverage to repair damage to the inside walls and other items like cabinets or countertops.

It would help if you understood what the HOA master policy covers. Typically, this policy covers the building itself and common areas. Understanding what the HOA master policy covers is important because you don’t want to duplicate coverage. For example, if the HOA master policy covers the roof, then you don’t need to purchase coverage for the roof in your condo insurance policy.

Condo insurance is essential to protect your investment and personal belongings. Make sure you understand the coverage options available to you and choose a policy that fits your needs.

At Brennan & Stuart, we understand the importance of having the right condo insurance policy. We’ll help you understand your options and ensure you have the right policy. Contact us at 815-223-0137 to schedule your review.

Brennan & Stuart

222 Bucklin Street

La Salle, IL 61301

www.brennanstuart.com