You live in a row house and a wind storm blows the roof off of your unit. Rainwater gets into your home and damages your furniture and carpeting.
The community building in your condo complex is vandalized and all unit owners are required to pay a portion of the damages.
You live on the third floor of a building and the plumbing under your kitchen sink is leaking. It has trickled down and caused water damage to the two units below you.
Would you be covered? Would you have enough coverage?
Insurance isn’t always simple.
Having an independent agent on your side means you have a policy catered specifically for your condo and all of the things you love in it. And as your needs change, we can change right along with you.
Core Homeowners Coverage Explained:
- Unit Owners Coverage: Coverage for parts of the condo which you are responsible for, generally a “walls-in” coverage.
- Other Structures: Coverage provided for any detached structures, such as a shed, fencing or detached garage.
- Personal Property/Contents: Coverage for all of your personal belongings in the condo, with some coverage extended for your contents while away from your residence.
- Loss of Use/Additional Living Expenses: Coverage provided for certain expenses incurred if you are unable to live in your condo or fully use your condo due to a covered loss.
- Personal Liability: Provides protection against lawsuits for incidents that you may become liable.
- Medical Payments: Coverage for others who are injured at your residence.
Commonly Included Homeowner Enhancements:
- Loss Assessment Coverage: Provides a limit of coverage for losses that may be assessed to the unit owners after a loss to a common area, such as a lobby, outdoor community spaces and pools.
- Water Backup of Sewers or Drains: Provides a limit of protection for damages due to the backup of sewers or drains. Generally, these losses occur in a basement, but can happen anywhere in your home.
- Special Personal Property: Provides a broader coverage form for your personal property
- Identity Theft/Home Cyber: Provides coverage limits to help restore your identity, recover data, restore systems and provide additional services after a cyber attack or identity theft loss.
- Equipment Breakdown: Provides coverage for certain electric & mechanical failures of home equipment such as air conditioners, heating units and major appliances.