You found the perfect condo in California, but you aren’t exactly sure how condo insurance stacks up against a standard homeowners insurance policy or a renters insurance policy. Before you invest your hard earned money into a condo purchase, it’s important to understand exactly what it covers, what your coverage options are, and how condo insurance protects your purchase.
The main difference between condo insurance and homeowners insurance is that condo insurance only covers your condo, and not the building that it is contained in. The building insurance is the responsibility of the condo building owner, so it’s important to understand that damage to the building is not your responsibility on a financial level.
Condo insurance covers damage to the condo that is caused by fire, lighting, and flood damage. Vandalism and theft are also commonly covered problems that your condo insurance takes care of. Another important aspect of this type of insurance is that it covers the contents of your home. If you were holding off on getting condo insurance because you assumed the building insurance would cover your losses, it’s essential to understand that the building coverage would never cover anything like your personal belongings.
Get your condo insurance policy so that you’re protected if you run into a major issue, so you aren’t left holding the bag when it comes to repairs and replacement costs.
Talk to our experienced independent agents in California to find out exactly what online insurance quotes are available to you. These quotes help you understand what options you have available without needing to go through the trouble of calling all of the insurance companies on an individual basis.
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