Ah, condo insurance. There’s something you’d probably never want to worry about! That magnificent condominium with the great view of the lake, nestled away in the mountains somewhere, might be the last place for which you’d feel like paying good money to buy insurance. After all, you only plan to be there a few months every year, right? Well, the fact is that many people live in condos year-round and therefore cannot afford the risks of going without insurance. Moreover, even those who own time-share condos must admit that a loss can occur at any time, regardless of whether they are actually living in the condo at that moment.
When it comes to insurance, condominium dwellers often need more than the limited coverage that the condo association typically has in place. The association usually provides insurance for the condo building and common property like parks and lawns. However, this general insurance won’t give you a dime if you suffer a break-in or if someone is hurt at your condo.The best condo policies will offer coverage options like the following:
- Bodily injury coverage
- Property damage
- Personal items
- Furniture coverage
- Interior damage
Get in touch with several condominium insurance providers in your area and find out what their rates are for the coverage that your state requires. Before you settle on a particular policy, talk to your condo association to make sure that you’re not buying any overlapping coverage.
At GEICO’s website, you can learn all about condo coverage and how it can protect you if you lose that beloved lake view condo of yours.
