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Insuring Your Condo to the Fullest

Modern Luxury apartments (condo)

Condo Insurance Basics

Buying a condo is very similar to buying your own house. You still get all the benefits of having a space of your own, without having to deal with the responsibility of taking care of a yard. However, there are a few differences between owning a house and owning a condo, specifically in your insurance coverage.

When you buy a condo, you are entering part of a homeowners association, also known as an HOA. HOAs will provide a limited amount of insurance coverage for your condo. Typically, they will only cover the common areas of your complex, such as a gym or pool, as well as the actual structure of your condo. Before you invest in your own coverage, make sure to check with the HOAs master policy to see what areas are already covered.

When it comes to finding the right condo insurance, there are some differences from a homeowners insurance policy. The most apparent difference between the two policies is the dwelling coverage. When looking for the right dwelling coverage for your condo, you will only need protection for the interior of your unit, while homeowners insurance will require that you invest in coverage for the total rebuild cost of your home.

Just like home insurance, condo insurance also offers many other coverage options, including liability and personal property coverage. Working with your independent insurance agent can help you decide how much coverage will work best for your situation and condo.

Contact the independent insurance professionals at Idaho Insurance / Affordable Insurance in Caldwell, Idaho for all of your condo insurance coverage needs. We will work with you to make sure that you have the right amount of protection for your specific needs, all at the right price to fit your budget.

Get a Quote or call for a quote at 208-459-0070