Purchasing a condominium is exciting and may be one of the most significant investments you will make throughout your life. It is essentially your home, so you will want to protect it with adequate condo insurance, but what does condo insurance cover? The experienced condo insurance agents at Alliance Insurance Partners, serving the Scottsdale, AZ area, want you to know about everything condo insurance.
What Does Condo Insurance Cover?
Many condo owners are under the impression that their condo association’s insurance will cover the items inside their condo, which is usually not the case. Condo owners must have their own insurance policy covering various things in case a natural disaster occurs, a fire happens, or an act of vandalism is carried out on their condo or the items inside.
Condo insurance covers your dwelling, which includes the interior structure of your condo unit, including floors, fixtures, and walls. Your condo association’s main policy will cover the building’s exterior, but you will need your own policy to cover the inside structure.
Condo insurance also offers personal property coverage. If a tragic event occurs, this will help you replace your personal belongings, including appliances, clothing, electronics, and furniture. It will also help you out if your personal property is stolen.
Condo insurance also includes liability protection since you never know when an accident is going to happen. If you are found to be responsible for any bodily injury or property damage that happens to others while they’re visiting your condo, you will be financially protected. This part of your policy can help pay for legal fees, medical expenses, and lost wages claims.
Contact Alliance Insurance Partners
Contact the trusted and knowledgeable condo insurance agents at Alliance Insurance Partners serving the Scottsdale, AZ area today to get your condo insurance policy started!