A condo is a bit of a hybrid when it comes to the type of housing it is. It's like an apartment, but there is no renting it. You own it like a detached house, but you don't own the whole building. This has made condo insurance consider the special status of condos and how the owners can and should be protected. If you need insurance for your condo, call us at VIP Insured.
When it comes to the portion of the building that you own, your contract is likely very exact. Generally, it is the inside of the building that your condo insurance covers. It would not include the outside portions of the building that the condo association owns. The association is responsible for insuring those areas as well as common areas in the community.
In addition to the inside of the building, all of your possessions are also covered by condo insurance. It's a good idea to document what you own, especially expensive items, just in case the worst should happen. This portion of condo insurance will help you to keep your standard of living even after a catastrophe. In addition to covering your possessions, condo insurance also provides a level of liability protection. As with homeowners' insurance, condo insurance covers accidents that can happen to third parties while on your property.
If you need to insure your condo, call us at VIP Insured. We can go over your condo contract to make sure that you are covered for all the portions of the building that you own. Your condo provides you with a home while condo insurance protects it, as well as your possessions, and gives you peace of mind.
Compare your unique insurance quotes
online via our comparative quoting form.