Category: Condo Insurance

You’re likely excited about your accomplishment if you have purchased a condo. Owning a condo in Green, OH (or anyplace else) is similar to owning a home, and most people consider it an event to be proud of. One thing you must be mindful of when owning a condo is having adequate condo insurance. You might wonder exactly what condo insurance covers, and here is an overview.

Not Equivalent to Homeowners Insurance

One thing that many condo owners believe is that condo insurance is equivalent to homeowners insurance. While there are some similarities, condo insurance is different from homeowners insurance. Condos typically come with homeowners association fees, as the homeowner’s association provides some coverage for your condo. Included in this coverage are the common areas of the complex, as well as the exterior of your condo. Therefore, any condo insurance that you purchase is supplemental. While homeowners insurance covers the interior as well as the exterior of a home, condo insurance only covers:

• Any personal property that is damaged or destroyed
• Injuries sustained at your condo
• Living expenses if your condo becomes uninhabitable and you must reside someplace else temporarily
• Any lawsuit that may be brought against you
• And more

When purchasing a policy, your insurance agent can provide more information about what’s covered for a deeper understanding. 

As you can see, what condo insurance covers is pretty straightforward. So, if you’re seeking a new condo insurance provider, we at Ken Boldt Insurance Agency II Inc. provide coverage for the Green, OH, area. We are always accepting new clients, and we pride ourselves on our high standards, which results in many happy customers who love our top-notch service and coverage. Call us today at Ken Boldt Insurance Agency II Inc. for a quote. 

If you have just bought a condo or rented one, most of your cost will be for maintenance and protection of the areas that the building has. However, this does not cover the cost of your belongings; you need to insure them to avoid loss.

At Ken Boldt Insurance Agency II Inc., we provide condo insurance that helps protect you from losing a considerable amount of money whenever there is damage to the unit. If you are in Green, OH, condo insurance is a must, especially when you have valuable belongings and there is a risk of causing damage to the unit.

Condo Insurance: What You Need To Know

When getting condo insurance, it’s essential to understand what it incorporates and how to go about it. When you are unsure how to go about condo insurance, you can contact us at Ken Boldt Insurance Agency II Inc to get all the answers and information you need. 

• It’s important to note that the condominium association ensures the outer structure of the condo building. This is guided by the condo master policy agreement that states the part owned and insured by the association and what part makes up the individual unit you are responsible for insuring. As an owner, you are responsible for everything inside the drywall.
• You need to understand the specific agreement in the master policy to know the owner’s insurable interest in the condo unit. When looking for condo insurance, you should look for one that covers real property and building addition and alteration, loan assessment, and personal property.
• Most condo owners are moving towards policies that provide less coverage for a lower cost. That shifts more risk and responsibility to the unit owners.
• If you are in the Green, OH area, consider reviewing the unit owners’ building property coverage with us to clearly understand the coverage you need in the event of a loss.
• Most owners don’t understand the interaction between the master and individual policies, especially during loss assessment. Condo owners should understand their obligation in the event of a loss.

Reach Us Today

To better understand how condo insurance works, reach out to us at Ken Boldt Insurance Agency II Inc, and we will find the right coverage for your needs. 

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!

 

While owning a condo in Green, OH is a significant achievement, it’s vital not to forget about condo insurance. Like it or not, you can find yourself in a complicated situation that only condo insurance can bail you out. Since you share the compound with other people, it isn’t easy knowing who is responsible for what. For this reason, you should purchase condo insurance from Ken Boldt Insurance Agency II Inc. In the process, you will accrue the below benefits. 

Dwelling coverage

While you may be contributing monthly contributions towards your condo owner’s association policy, this covers the exterior of your building only. As for your condo’s interior, you need condo insurance to protect the walls, roof, floor, and other fixtures when destroyed by fire and other threats. 

Liability coverage

If a visitor is injured in the common areas like the swimming pool, lobby, or tennis court, the master policy takes care of the medical expenses. However, if injuries occur inside your condo, you need condo insurance to take care of the medical expenses and possible lawsuits. Besides, condo insurance covers property damage that you or your family members inflict on other people. 

Personal property protection

Theft and vandalism are a constant danger when living in a condo. Besides, water damage can destroy your furniture, electronics, and other assets. Since replacing your assets can be expensive, you need condo insurance to shield you from damage or loss occurring on your belongings. 

Loss of use coverage

If a covered peril destroys your condo, you may need to seek temporal shelter as your condo is being repaired. In the process, you may incur hotel costs and travel expenses. Thankfully, if you have condo insurance, expenses exceeding your everyday spending are covered.

Get condo insurance today!

Are you looking for Condo Insurance in Green, OH? You can trust Boldt Insurance Agency II Inc. for all your condo insurance solutions. Contact us today for a quote. 

Ken Boldt Insurance Agency II, Inc. helps Green, OH residents find the insurance coverage that they need. We assist our clients by offering multiple insurance policies. We also strive to provide excellent customer service.

The Important of Condo Insurance

As a condo owner, you’ve likely invested a lot of time and energy into making your property look good. In order to protect your investment, explore the benefits of condo insurance. Condo insurance covers the entire property as well as your personal belongings inside the units.

The policy covers any issues related to your appliances and different fixtures. If your bathroom is damaged, condo insurance will cover it. If you have any problems with the walls and flooring of the condo, those things are also covered under the policy.

Your personal belongings are covered if your clothes or electronics are stolen. The coverage also applies if your furniture is vandalized. However, if you have very valuable items like jewelry or art, you may have to amend your policy to include extra coverage. Liability coverage is crucial because it protects you if someone is injured while visiting your condo. You can also alter your policy so that you are prepared in the event of an unfortunate circumstance. Make sure that your policy includes natural disaster protection so that you are covered if a flood comes through the area or a severe thunderstorm damages the area. You can also add umbrella insurance to your policy for extra security. You can add loss of use coverage to your policy. That will protect you if your condo becomes damaged, and you have to stay somewhere else while your condo is repaired.  

Ken Boldt Insurance Agency II, Inc. Can Help You

If you are a condo owner in Green, OH, we will work with you to help you protect your investment.