When you own a condo you face many of the same risks as someone who owns a free-standing home. Your condo association takes care of the roof and exterior parts of your building but the interior is yours to insure. Condo insurance protects you from a variety of perils. Talking to one of the experienced agents at Young Insurance Associates Inc in Raleigh, NC can provide the answered that you require before making this important decision. You must understand what the master policy covers before you purchase a condo policy to make sure you have the correct coverage.
The condo association policy covers the exterior of the building and common areas which may include hallways and elevators. How much of the individual units they cover depends on their policy. You may only need to cover your personal items such as furniture, decor, electronics, clothes, and jewelry or you may be responsible for everything inside of the walls which can mean countertops, lighting. bathtubs etc. You need to know who will fix these items in case of a covered peril. Covered perils include fire, theft, and vandalism just to name a few.
Liability is one of the most important forms of coverage. It protects you from the legal results of someone being hurt while in your condo. If you are sued and the case is litigated, it can cover not only judgment against you but the cost of the legal help you may need.
Loss of use
If your condo is made uninhabitable by a covered peril. your insurance will help to pay for a place for you to stay until you can move back in.
Young Insurance Associates Inc in Raleigh, NC would love to talk to you about the condo insurance that is right for you. Call or visit their office or website.