Young Insurance Associates Inc. serves the Raleigh, NC community by offering residents insurance coverage. Our goal is to help our clients find the policies they need in order to protect their futures. As an independent agency, we offer flexible coverage options to our clients.
Condo Insurance Myths
Owning a condo in Raleigh, NC gives you the opportunity to enjoy some of the attractions throughout the city in a comfortable manner. Condo insurance protects your condo in the event that it is damaged or vandalized. You can also amend your policy to include coverage on your personal items inside the condo in the event that they are stolen. With that being said, here are some condo insurance myths that you should beware of while researching policies.
I Have Coverage Through The Corporation. That’s Enough
While you may have insurance through the corporation, you are not fully protected. That policy likely only covers the exterior of the building. In order to protect your own personal condo, as well as your belongings, you need your own policy.
My Renovation Project Is Covered
This is incorrect. In the event that you decide to renovate your condo, your project is not automatically covered through your policy. You will have to amend your policy to cover these upgrades.
I Can Rent Out My Condo With No Issue
If you plan to rent out your condo, you need to research your policy carefully. Most condo insurance policies do not contain a clause for renting out the unit due to the risks involved.
My Landlord Covers Serious Disasters Such As Flooding
If your property accidentally floods, causing damage to your unit, as well as others, your landlord is not automatically associated with the damages. You may need additional coverage to stay protected.
Young Insurance Associates Inc. Can Help You
For more information on condo insurance, visit our website today!