What is Condo Insurance?
- This type of policy is for people who own a condominium, townhouse or other type of row house. If you rent a condo, you would use a renter’s insurance policy.
- Condo insurance covers the inside of a single unit and the appliances, furniture and personal belongings of the insurer.
- This type of policy doesn’t cover the exterior of the building or common areas of the property because a master policy owned by the association takes care of that protection.
- It is referred to as an HO6 policy.
- Condo insurance protects you with liability coverage in case someone is injured in your unit which you are responsible for.
- It also covers upgrades to your unit which may be different from what was originally included in the purchase.
How Much Condo Insurance Do I Need in Salt Lake City?
- You will want to consider how much your personal belongings are worth and how much they would cost to replace. This will impact the amount of coverage you need for personal items.
- Any upgrades you make to the unit, such as granite countertops, may require additional coverage.
- Temporary living expenses should be included in case damage to the unit requires you to relocate until repairs can be made.
- Medical costs and lawsuits resulting from an injury can be expensive and condo insurance would cover these expenses up to the maximum on your policy.
You will want to make sure you have ideal coverage for condo insurance in the Salt Lake City area to handle the worst-case scenarios. Even though the master policy will pay for some things, it won’t provide adequate coverage for all your expenses. It’s important to talk to Salt Lake City Insurance to find out how much coverage you need for your condo unit. Find an affordable policy that gives you peace of mind so you can enjoy your home.