If you need condo insurance in Pasadena TX, Webster TX, Houston or Galveston, then Rick Tinker Insurance Agency can help. Condo Insurance is complicated by the fact that the you live in a complex where insurance requirements are split between the complex association and the condo owners.
To properly insurance your condo, townhouse or apartment, you need to know which parts of your unit is covered by the association’s insurance. You can establish that by reading the association’s bylaws. It probably won’t be easy reading but the team at Rick Tinker will help you out and explain which bits and pieces you need to insure.
You need to know whether the association insurance covers you entire dwelling or only part of it?
Sometimes the management company is responsible for the entire unit as it was originally built. Sometimes they are only responsible for the main structures, such as floors, walls, ceilings and roof.
What about alterations? You will most likely be responsible for insuring alterations and you may also be responsible for insuring certain fixtures and fittings. You will also be responsible for your personal possessions as well as possible liability claims.
Liability insurance covers you for claims resulting from injuries or damages suffered by 3rd parties whilst in your dwelling. Content insurance covers your valuables that you keep in your dwelling. You also need to consider flood insurance for your condo. Most homeowner’s insurance policies don’t cover flood damage and this same principle will apply to your condo, townhouse or apartment.
When there are two policies involved, there is the possibility of gaps in coverage. You want to be sure you have good and proper condo insurance. Without proper condo insurance, you are at financial risk.
Insurance is a complicated field and condo insurance is no exception. It makes sense to get expert advice and help.