How Do You Buy Insurance For A Condo?
If you live in a condo, you’ll find that the condominium association has insurance, but that only covers the building, not your possessions or accidents that occur in your condo. Buying insurance for a condo will protect you and your investment. Step 1 Ask your condo association what portions of your condo are covered by their insurance and what you are accountable for. Step 2 Insure those areas sufficiently to cover potential repairs or replacement that the condo association will not. List the contents of your condo, including your personal belongings, appliances and decor. These items are generally entirely your responsibility and not covered by your association’s policy. Step 3 Estimate the total cost to replace the items. Do not estimate what they are worth, but rather how much money it would take to get a new item. When you buy insurance for a condo, you need to account for the effort and cost of replacing them should something occur. Step 4 Purchase liability insurance. Condomini
