Central California Condo Insurance
A condominium can be a stress free life style. The association takes care of the common area but you get to enjoy it. There are usually amenities that the homeowner doesn't have the ability to put in place but it also has is own unique set of risks. As a condo owners there are several insurance issues, You have your condo insurance and the association has the master condominium insurance policy.
Your Condominium insurance is like a homeowners insurance policy in some respects and renters insurance in others. The policy covers the portion of the building not covered by the association policy. What do I need to cover you might ask? Well it varies by the association and the individual CC&R's. The document that is the CC&Rs will tell you what belongs to the association and what is your responsibility. Because this varies from association to association, we would have to take a look to make sure that there is not either a gap or a large overlap in coverage.
The master policy covers the building for the association and the common areas and separate buildings. The Association policy also covers the liability for the association, covering the common areas and those areas outside of your unit. Your condo insurance policy provides the liability for what happens inside the unit, those things that are personal liability. If your dog bites the neighbor it is your liability not the associations.Because there are various policies in place, you need to make sure that you don't overpay for unneeded insurance--already covered by the master insurance plan--and that you have extra liability insurance where the master insurance stops.
Your condo is in a communal setting but your condo insurance needs to be individual Be sure you are not left holding the bag with an uncovered claim.
That brings us to assessment coverage. If there is a claim to the association and the policy has a large deductible, each unit can be charged an assessment. Depending on the number of units this might be a large number. It is possible to buy coverage for this gap and save you thousands of dollars. It is always a good idea to review and understand your associations policy so that you can make the right decision
Worried about costs. Don't be--Paso Robles condominium insurance can be very affordable.
California Condo insurance is like a suit that needs to be individually tailored. It needs to be complete but not overdone. If it's too big and you have more coverage than you need then you overpay and if it's not big enough then you may expose yourself to unexpected costs and possibly even lawsuits.
Central California Condo insurance is available at reasonable rates to condo owners and we are happy to go over your paperwork and design a plan for you. It is distinct from homeowner insurance because it works in conjunction with your association's insurance policy. Lets get the information and make a plan.
Here are two very valid reasons to act now!
- It is important for your personal protection to have your condominium insurance in place before any claims are made.Not just claims for the inside of the property but also from anyone else on the condominium property.
- We can provide you with a no-risk quote within a day. Just fill out this short form to get an inexpensive policy that will protect you and your home.
Please don't wait get your condo insurance today and have a restful night with the knowledge you have the right coverage for your situation. Ted Hamm Insurance has been insuring condos since 1977 and we are ready to protect you and your family.