Protecting Your Condominium Investment

Because it can be more efficient or economical, your association may insure all the building and common elements under a single package policy, commonly called an association master policy.

Condominium insurance provides coverage for your unit where your condominium association insurance stops. Your association typically insures the building and other common areas. You are responsible for the interior of your unit. Typically you need personal property and liability coverage. In addition to coverage for your floors, walls, cabinets and fixtures that your association's insurance probably will not cover.

Every association's insurance policy is different regarding what each unit owner is responsible for, so it is important to review your association policy and condominium by-laws carefully.

Unfortunately there are many cases where that insurance policy won’t cover you or your things, like a break in, water damage to your living room walls, or someone injuring themselves slipping on your wet kitchen floor.  That's why you need condominium insurance designed specifically for condo or co-op owners.

Condominium policies help protect your personal property and the interior of your unit. You will also have liability protection for bodily injury or property damage to others. It's easy to get a quote for a condominium insurance policy that will provide these coverages.

Remember that if your bathtube overflows it may not be just your unit that is damaged and cleaning up the water will not be where your headache stops.

The nature of condominium living is very different from a stand alone home and you need an agent who understands your very specific needs as a condominium owner or renter.

You need to understand that even something as simple as a repair to your unit can open you up to the need for an insurance policy that covers what you do and who you hire.

You want to know how what a guest does on the property will affect your liability to the condominium association.

When considering your needs for insurance products for your home or business consider contacting Bennett Insurance Group at 623-979-4140

Brought to you by:
Jim Bennett
Bennett Insurance Group
623-979-4140
http://jimbennettinsurance.com
jim@jimbennettinsurance.com