Protection for Your Condo

Apartment Building

Condo Insurance 101

Owning a condo comes with a lot of responsibility, including making sure that all of your assets are protected with the right insurance policy. Condo insurance policies differ slightly from traditional homeowners insurance policies, since you do not need to invest in as much coverage.

Condos are part of a condo association, which will provide some coverage for your home. Before you invest in your own condo insurance policy, it is important to make sure to check the master policy that is provided by the condo association to see what is already covered to ensure that you are not paying for double coverage.

Typical master policies will only provide coverage for the actual structure of your condo, as well as protection for any common areas. This will include coverage for damage that is done to the building from certain disasters, as well as liability coverage for injuries that occur in the common areas.

Personal condo insurance policies are meant to cover any gaps in the master policy to ensure that you are properly protected. Condo insurance policies will also provide coverage for your personal belongings that you keep inside your unit. When looking for the right amount of coverage for your personal property, make sure that you know the value of all your belongings. Many people underestimate just how much they own, so when deciding on how much insurance to invest in, consider what all of your belongings would cost if you had to replace them today.

For all your condo insurance coverage needs, contact the insurance professionals at Idaho Insurance / Affordable Insurance in Caldwell, Idaho. We will work with you to ensure that you have the right amount of protection for all of your assets, all at the right price to fit your budget.

Posted on: February 16th, 2015 at 2:00pm by Idaho Insurance Blogging Team. Filed under: Article Archives
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