When you need to purchase condo insurance, you're probably finding out there are a lot of decisions to make and details to work our before you make a choice. Use the information below put together by Allstate to help better understand the basic condo insurance options available. Naturally, insurance coverage is subject to policy terms an conditions, but it is important to protect your investment by choosing insurance that you decide is right for you. Let Cowles-Henke-Kemmel Insurance assist in helping you select the condo insurance that is best for you.
Condominium associations are responsible for insuring common areas, such as the building exterior and walkways. But as a condo owner, you're typically responsible for covering everything inside your unit, including cabinetry and appliances. Your Cowles-Henke-Kemmel Insurance agent can help you calculate an appropriate amount.
If someone inside your condo is accidentally injured, this coverage can provide payments for reasonable medical expenses, whether or not an accident in your condo was your fault.
This coverage helps protect you against the legal responsibility or any injury or property damage that you or anyone else insured under your policy may have caused to other people on or away from your property. It includes compensation for the injured property, the cost of defending you in court and most court awards - up to the limits of your policy. If you have significant assets, you should consider purchasing additional levels of liability protection.
If a covered loss (like a fire) makes your condo uninhabitable, this policy will cover the reasonable increase in expenses needed to maintain your standard of living for a certain amount of time. This may include payments for a hotel, food and other expenses.
If your condominium association levies special assessments against you resulting from certain losses to your condominium complex, your policy will pay your share of such assessments up to the $1,000 coverage limit.
To best understand a renters insurance policy, you can count on the small town agents at Cowles-Henke-Kemmel Insurance. Give us a call today to be sure that you have the renters insurance coverage you need should the unfortunate occur.
The information provided on this page was adapted from the article 'Guide to Condo Insurance'' from Allstate Insurance.