If you rent or own a condo, you’ll still want to have insurance in place. Like homes, condos can suffer damages that can cost you a lot to fix if you don’t have the right insurance.
Things to Consider When Choosing Condo Insurance
What Does the HOA Master Policy Cover?
Your HOA typically collects monthly fees to cover the exteriors of units and common areas. These entities tend to cover areas of their own interest but not the owner’s goods.
Determine Costs to Make Interior Repairs
Interiors are wholly your responsibility, so you’ll want to have enough condo insurance to make repairs or replacements if necessary. A Midwest Professional Insurance company serving Kansas will help determine the amount, factoring in what the HOA’s master policy covers.
Calculate the Value of Personal Items
Should goods be damaged in a covered loss or stolen, they are covered. Take a home inventory to determine the value, calculating valuables like art, jewelry, and collections.
Protect Your Assets
If someone is injured on your property, your dog bites someone, or you’re found liable for damages, protect your investments, which could be at risk for lawsuits. Your policy can protect your investments and assets to protect yourself from liability issues.
Calculate Addition Living Expenses
Should a serious incident cause major damage to your unit, your condo may be uninhabitable for a while. Meanwhile, it will take money to pay for rent elsewhere, meals to eat, laundry to do, and maybe even pet boarding. This part of your condo insurance helps cover these expenses to minimize money out-of-pocket.
Midwest Professional Insurance Serving Kansas
Looking for an insurance company that serves Kansas residents? Contact Midwest Professional Insurance to learn more or get a condo insurance quote.
