Condominium Insurance Policy:
What should I consider?
Owning a condominium puts you in a unique position. Unique because you have both common and individual insurance needs. Odds are, your condominium association has an insurance policy for common areas, like the building exterior and walkways. You’re still responsible for insuring your interests such as your personal property, yourself from liability and your guest’s medical protection. Some things to consider…
How do I know how much coverage my association carries? Are there parts of the building or property they don’t insure? What are my insurance responsibilities?
How much would it cost to repair the inside of my home if it were damaged? How can I make my home safer and possibly save money?
What would it cost to replace the contents of my home?
Do I have an inventory and photographs of my personal possessions?