If you are considering condo association insurance coverage, there are a few things you need to know. Here’s what you need to consider when shopping for condo association insurance.
First, you need to understand the difference between an HOA policy and a condo association policy. An HOA policy covers the development’s common areas, such as the pool or clubhouse, while a condo association policy covers the individual units.
Second, you need to know what coverage you need. Do you need property damage coverage? What about liability coverage?
Third, you need to consider the deductibles. The higher the deductible, the lower your premium will be. However, you will have to pay more out of pocket if there is a claim.
Finally, it would help if you got quotes from several insurance companies. Be sure to compare apples to apples when you are comparing policies.
If you keep these things in mind, you will be able to find the right condo association insurance policy for your needs. Shopping for condo association insurance doesn’t have to be complicated. Just be sure to do your homework, and you’ll be able to find the right policy for your community.
If you have any questions about condo association insurance, don’t hesitate to get in touch with our office. We would be happy to help you find the right coverage for your community. Thank you for reading! Let us know if there is anything else we can do to help.