Owning a condominium is markedly different from owning a standalone house, and different situations call for a different type of insurance. At our Santa Monica insurance center, we understand the nuances of condo ownership and the coverage it requires. After all, when you’re sharing a building with hundreds of other people, it can be difficult to figure out what the policies are, but we’re happy to help you! First, however, let’s answer some basic questions about what condominium insurance covers and what you can expect from your plan.
Hawthorne Condo Owners Can Keep It Covered
- How does condo insurance work? Your condo association may have its own master policy, and your personal insurance will navigate around that to cover things like the interior walls and your appliances.
- What does condo insurance cover? Of course this varies, but at the very least this type of insurance will account for your personal property damaged in the event of a covered loss such as a theft or a fire.
- What is loss assessment coverage? Condos are unique living situations because residents have the opportunity to use shared spaces. You have the option to tack loss assessment coverage to the condo insurance plan you have for your Santa Monica abode. If something happens to that shared space and the damage exceeds the condo association’s insurance limits, all condo owners may be expected to chip in towards an assessment for repairs, and we can cover that for you!
- What if my condo becomes uninhabitable? If a covered loss occurs and makes it impossible for you to live in your condo (such as a fire), your plan covers reimbursed living expenses such as food and a temporary place to live.
If you have more questions, we have more answers! When you’re ready to pursue insurance for your condo, contact us or request a quote from Sully Insurance. Our experienced agents will get right back to you!