Due to the specific division of the ownership of such properties, condos have different requirements from regular homes when it comes to insurance. When you’re comparing quotes for condo insurance coverage, you’ll need to take different aspects into account for your condo insurance policy than you would for a conventional home.
Condo Insurance Coverage Basics
In the United States, condos are usually partially insured with a condo association’s master policy. This master policy provides coverage for the common areas inside your building, such as the lobby, hallways, stairs, and any other common areas in your building. In addition, the master policy also insures all outside common areas and the exterior of the building. As the owner of your part of the property, it’s your responsibility to get condo insurance coverage for your unit.
Finding the Best Condo Insurance Coverage
Before you request condo insurance coverage quotes, review your condo association’s master policy carefully and take note of what is already insured. This way, when you request condo insurance coverage quotes, you don’t pay twice for the same thing.
AgentInsure, one of the nation’s leading insurance comparison companies, can help you find the best condo insurance coverage policies for your situation. After receiving your free condo insurance coverage quotes, you can review each one and see which provides the best coverage for your unit, as well as your possessions, so you’re completely covered in the event of damages or theft. AgentInsure can help in all aspects of assessing your condo insurance coverage needs, how much your monthly premium and deductible should be, and what types of damages are covered.