Those who own or rent condominiums of any size will quickly come to realize that they’ll be required to get their own policies on such, whether individually or covering multiple parties in the condo home. You won’t need to look far if that’s your case since almost every condo association in the U.S. sells its own kind of condo insurance….but you do need to look around to make sure you get a great deal and not just a decent one. That can be the tricky part, an important point to remember and potentially a topic for another great article.
Now, condo insurance itself usually covers the common living areas of your condo, in full, enveloping every single square inch of space you have rented out or purchased, based upon the contract agreement stating so. You will also find that certain areas of the building’s exterior may also be insured, leaving you with greater peace of mind. Yet keep in mind the following: some packaged plans do not cover the interior of the condo but only damage from the outside, and vice versa. So, it’s crucial to read those terms carefully before signing and the agents of The Insurance Place in Rochelle Park, NJ can help.
Also, there are many types of packages you can select, respectively, the main ones including these three :
- All – In / All-Inclusive Condo Insurance – Protects all surfaces on the outside and inside alike.
- Special Entity Condo Insurance – Covers everything but unit add-ons or structural improvements made later on.
- Bare Structure Condo Insurance – Only covers the "bare essentials", not including any interior structures or assets.
Rochelle Park, NJ is home to many amazing insurance agencies like The Insurance Place. If you live here or in the area, check us out today. There’s nothing you can lose! Call now.