Condo Insurance in Palmetto, Florida
Condos are somewhere in between a single family home and an apartment. They solve a unique problem for those that do not want to continue renting an apartment and those that do not want to buy a single family home. Because they fill a special niche, they come along with their own set of insurance requirements. Many people might think that all they need is a home insurance policy, but the truth is that you can get a plan specifically for your condo that meets the needs of living arrangement.
Do I need condo insurance?
When you buy a condo, it is likely in a condominium association. Almost all of these associations have their own insurance, not unlike an apartment complex does. If this is the case with your condo, do you really need to get your own insurance? Many people might say that they do not need to expend their own money for more insurance, if the association covers them, but the truth is that the insurance that your association has probably only covers property in the neighborhood that is owned jointly, liability for the association, and the building itself.
What it doesn’t cover, however, are break-ins, water damage, flooding, or your own liability if, for example, someone slips on your icy walkway and breaks their arm. The policy offered by your association might cover you if the entire building burns down (though likely would not cover your items inside of the building), it does not over you for some of the most common and most distressing damages you will experience in your condo.
A condo policy helps to protect your property, both outside and inside of your specific unit, along with liability protection, if someone injures themselves in or around your condo. In order to get the right amount of condo insurance, you will need to estimate the value of your property inside of your condo and then contact us for a quote!