The Benefits of Getting Condo Insurance

Roughly one of twenty people owns a condo in the urban area. It’s either they have it rented out or they choose to live in it. However, only a few condo owners have enough insurance coverage. Though the Homeowner’s Association or HOA provides insurance, it may only involve the exterior of the condominium building and the commonly owned property. Thus, what is provided by the HOA insurance policy is only limited.

Having proper condominium insurance policy can help protect your personal property and liability as well as the interior fixtures of your condo unit. Because of the crisis that the current market is experiencing, several HOAs are reducing the coverage on the Master Policy. As a result, owners are left with financial losses whenever they make a claim.

Source Article: Condo Insurance – Are you sure you’re covered?

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