Condominiums come in all shapes and sizes. Some look like apartments, townhomes, a duplex, or even a single-family home.
When you are contracting to purchase a condominium, you are thinking about all the benefits it offers and how it will improve your lifestyle. All of that is so true.
But, how in the world do you figure out how to insure it? You read those pesky documents, and nothing makes sense.
Condominiums have two (2) types of insurance. The first is a “Master Condominium Policy”. That is a policy your Association purchases and it covers the building from the studs out. It also covers all the common and limited common elements. Confused? Don’t be. That is what we are here for.
It is our responsibility to help you determine what is your responsibility.
That’s the second type of policy. Some call it a Unit Owners Policy. This covers your responsibilities. And what are those responsibilities? Remember when you walked in and there was no furniture inside? Everything you see, is your responsibility. The walls, the ceiling, everything attached, the floors and floor coverings, the electrical, plumbing and heating. Anything that services your unit is your responsibility, including your doors and windows.
But wait, you bought a condo to ease your stress. This is really stressing you out.
There is more to cover than just your personal belongings you are moving in.
We provide you with a form to help you determine how much coverage you need to insure for the part of the building you are responsible for. You see, not every Condo is created equal. Yours may be very different from the one next door.
AND…….our Agency Manager has lived in Condo Communities since 1996 and been the Board President at both communities she has lived in since 1997.