How Does Condo Insurance Work?

Condo insurance is a lot different from home insurance or renters’ insurance, but it does share a few coverages with those types of insurance. Condo coverage is unique among insurance types, and it’s a must to have it if you own a condo. If you need coverage for your condo, contact us at Advantage Insurance Network in Cincinnati, OH to find out more about this insurance type and to get your policy.

Your Dwelling

When you have a condo, there are certain parts of it that you own and certain parts you don’t. Generally, you are responsible for everything inside your unit. Depending on the contract, this may include the space inside and the inside walls. In others, it may include what’s inside the walls, i.e., plumbing and electricity lines. It does not, however, generally include any portion of the outside of the dwelling. An exception is a portion of the outside area that has been improved by you. When this happens, you must insure that area. Whatever portions of the property you are responsible for the need to be covered by your condo insurance. 

Your Belongings

Most of what you own is likely inside your condo. That’s why the portion that covers your possessions is so important. If an accident or catastrophe were to damage or destroy your belongings, your condo insurance will pay to fix or replace them. To document what you own for your insurance policy, film yourself walking around the condo so that everything inside it is included in the video. You can also take pictures of the rooms with special attention paid to expensive items within them. 

Get Your Condo Insured

Don’t go even a day without condo insurance. Call us at Advantage Insurance Network in Cincinnati, OH to talk to an agent about your condo and what needs to be covered.