Condominium living has become a popular choice for those who want to do fewer home maintenance tasks and have more time for enjoyable pursuits. Condominiums require a different type of homeowners policy that takes into account shared spaces and individual insurance needs. At Hastings Insurance Agency LLC serving the greater Tomball, TX community we can answer your questions about the special needs of condominium owners.
Why You Need Specialized Coverage For Condominiums
Condominiums require specialized insurance because of the structural differences. Condominiums are attached in various ways to other units. Damage that occurs in an adjacent unit can easily affect your own unit. Condominiums also have “shared” areas, such as parking lots, swimming pools, and other types of common areas that are generally covered under a “master plan” of insurance, but this policy does not cover the individual personal possessions of the owners inside each unit.
What Condo Insurance Covers
Condominium insurance covers the personal possession inside your unit when damage occurs due to a peril named in your policy. This generally includes clothing, furniture, electronics, kitchen items, musical instruments, as well as jewelry and artwork to a certain limit. They also include liability coverage if someone is injured while in your unit. Policies generally cover additional living expenses while your unit is being repaired. Coverage is also available for the interior walls and other built-ins in your condominium, if needed, in addition to your condominium association’s master plan coverage.
Make Hastings Insurance Agency LLC Your Agent For Condominium Insurance
Our experienced agents in Tomball, TX can help you understand the details of your condominium coverage so your financial interests are adequately addressed. We offer a wide range of insurance products for personal coverage and for business. Contact us today for an appointment to learn more about how condominium insurance protects your investment.