Finding The Right Coverage For Your Condo Or Town Home

Window Seat In Modern House

Condo And Town Home Protection

When it comes to protecting your house, most people are aware that they need the right homeowners insurance policy. However, if you own a condo or town home, it can be easy to assume that your home will be covered by the homeowners association. However, just like a house, condos and town homes need to be protected with an insurance policy of their own.

While your homeowners association, or HOA, will provide some amount of coverage for your unit, it will typically only be for the exterior of your building. It will most likely not provide any coverage for the contents that you keep inside your home. The only way to protect all of your personal belongings that you have in your condo or town home is to invest in a specific insurance policy that is meant to provide adequate coverage.

Before you invest in condo or town home insurance, make sure to look over the master policy that is provided by your HOA. Knowing exactly what is covered by your HOA can help to make sure that you are not left paying for coverage that you already have, which will help you save big. There are many issues that you should talk about with your HOA and insurance agent, including:

  • How much coverage do I need? Consider if your need to cover simply your personal belongings, or if you will also need to provide coverage for permanent fixtures, such as carpet and cabinets. You should also decide if you need actual cash value or replacement cost coverage to keep your belongings safe.
  • What will my deductible be? Just like many other insurance policies, the higher your deductible is, the lower your monthly premium will be. Just make sure that you choose a deductible that you can actually afford.

Contact Desert Empire Insurance in Palm Desert, California for all of your condo and town home insurance needs.