My Account
If you’re in the market for a condo, it’s important to protect your investment with insurance. But what does condo insurance cover, and how much do you need? Ken Boldt Insurance Agency II Inc. in Green, OH offers a guide on what you need to know before buying condo insurance.
What to Know Before Buying Condo Insurance
1. What Does It Cover?
In general, it will protect you from any damage to your unit that is caused by fire, smoke, theft, vandalism, or severe weather. It will also provide coverage if someone is injured while on your property. In addition, your condo association’s master policy will likely only cover the building itself – not your personal belongings or liability. That’s where your condo insurance comes in. By having a policy in place, you can rest assured knowing that you and your belongings are protected.
2. How Much Coverage Do I Need?
The amount of coverage you need will depend on the value of your belongings and the amount of liability coverage you feel comfortable with. To get an idea of how much coverage you may need, take an inventory of your possessions and their value. You should also consider how much it would cost to replace any items that were damaged or destroyed. As for liability coverage, you’ll want to consider how much protection you need in the event that someone is injured while on your property.
3. What Will It Cost?
The cost of your condo insurance policy will depend on a variety of factors, including the value of your possessions, the amount of coverage you need, and the deductible you choose. Be sure to shop around and compare rates from different insurers before deciding.
4. Do I Need It?
If you own a condo, the answer is likely yes. As we mentioned above, your condo association’s master policy will likely only cover the building itself – not your personal belongings or liability. So, if you want to be fully protected, you’ll need to purchase a condo insurance policy.
Now that you know what to look for in a condo insurance policy, it’s time to start shopping around. Ken Boldt Insurance Agency II Inc. in Green, OH, can help you find the right policy for your needs and budget. Give us a call today to get started!
