Condo insurance is similar to renter’s insurance
A condominium really refers to a type of ownership of property. So if you own a townhouse in Galveston or an apartment in Houston or a duplex in Mansfield, you will fall under a condominium type of ownership. Whatever style of condominium home you own; it is still a substantial investment that you will want protect with the right condo insurance. When you own condominium style home, the condo board or homeowner’s association will take of condo insurance that covers the outside areas, exterior and building structures. You still need personal insurance to cover the interior of your condo and your personal possessions and affects. In that way condo insurance is much like renter’s insurance.
Your condo insurance should cover structures of your unit that are not covered by the homeowner’s or condo association insurance. It should also cover any improvements you make inside your dwelling. You will also want your condo insurance to cover your public liabilities as well as your personal possessions. Generally, the associations complex insurance will cover common areas, outside areas as well as the building structures.
Rick Tinker can help you with the right kind of condo insurance in Galveston, Houston or Mansfield. So if you suffer damage as a result of an accident, a burglary, fire, frozen pipes and other stated risks, you will be compensated for the replacement value of your losses. You will also be covered should someone else suffer loss or damage whilst inside your condo.
Of course not everything and not all risks and activities are covered. It is always good to know what is covered and what is not covered. That way there will be no nasty surprises. For example, does your condo insurance cover losses related to business pursuits? The team at Rick Tinker can help you with these important questions.