Manchester, NH is a great place to call home. It is one of the most liveable cities in the state. Great restaurants, lots of entertainment opportunities, and an international airport make it a popular choice. Condos are an affordable option in a hot real estate market. If you have a mortgage you may be required to have a condo insurance policy by your lender. At Associated American Insurance we place our customers first and as an independent agency, we owe our allegiance to you.
The question "Do I need to carry condo insurance?" is simply answered is yes. Like home insurance, condo insurance offers too many valuable protections to pass up. Your condo association has a master policy that covers the exterior of your unit. How far into the unit it covers varies so it is important to read and understand what coverage it provides.
While the association insurance covers your roof and exterior walls, it doesn’t cover your personal property, that is your responsibility. Consider all the things that make your condo comfortable, your appliances, electronics, furniture, decor, and your clothes. If your unit was damaged or destroyed by a covered peril, you would be on your own to replace everything. not something most people can do easily.
Condo insurance includes liability insurance. We live in a sue-happy society and if someone is injured while visiting your home, you could find yourself on the receiving end of a legal judgment. Liability is a necessity to protect you and your assets.
If your condo is damaged you should have loss-of-use insurance with your condo policy which will help you to afford a place to stay while your home is uninhabitable.
Condo insurance offers lots of valuable protection and if you are interested in learning more about it. give us a call or stop by at Associated American Insurance in Manchester, NH for a no-obligation quote.
Your condo is one of your most valuable assets. Not only does the structure hold value, but the items inside your home are also priceless. There may not be an exact dollar amount that you can place on the sentimental items in your home. You should, however, make certain that you have enough condo insurance to pay for a fresh start in Manchester, NH. The insurance agents at Associated American Insurance can help you choose the best plan.
What is the purpose of condo insurance?
Condo insurance operates similarly to home insurance. The policyholder is provided a certain amount of money, based on his policy’s limits, if a covered incident causes damage to either the structure or possessions inside the residence.
Condo insurance differs from home insurance in that some property is not covered. Your home association fees, for instance, pay for injuries that visitors encounter in the courtyard of the property. Your condo insurance, however, kicks into gear if the individual is hurt inside your home.
How much condo insurance do you need?
You need a condo insurance plan that guards you against a lawsuit while securing all the assets of your home. It is generally a good idea to purchase an indemnity plan that also pays for relocation if you need to temporarily move out of your condo. You definitely want an insurance policy that pays enough for you to purchase a new home or condo in the event that your residence is completely destroyed.
The agents at Associated American Insurance in Manchester, NH can help you find the condo insurance plan that best suits your needs. Call us today to get started with a quote for coverage!
Condo insurance is a must to protect your unit and belongings. Your association’s master policy protects the outside of your building and common grounds, not your individual unit. If a fire-ravaged your condo’s kitchen and destroyed cabinets and kitchen appliances, condo insurance from Associated American Insurance in Manchester, NH would help pay for repairs. What kind of condo insurance do you need?
Interior Structure Protection
Condo insurance can protect the interior of your unit to include walls, ceilings, floors, light fixtures and built-in shelving against damage from fire, inclement weather, vandalism, smoke, and other disasters. There’s no telling when a catastrophe will strike. With insurance protection, you can be prepared to face any eventuality.
If family or friends visit your condo regularly, you’ll need liability coverage to protect you against accidents that may occur on your property. Liability insurance helps pay a visitor’s medical expenses if they’re injured while visiting your condo. The limits of your liability coverage should be enough to protect your assets in case you’re sued for damages.
In addition to structure and liability protection, you’ll want to protect your belongings. This includes furniture, appliances, electronics, clothes, jewelry and any other goods you own. Content insurance will pay for the repair or replacement of your goods if they’re stolen or destroyed in a disaster.
Creating an inventory of your goods and their value will make it easier to file a claim. Keep in mind that high-end goods may need extra insurance coverage to fully cover their value. You should also consider replacement cost coverage as it covers the cost of replacing your goods if they’re totally destroyed in a disaster.
For more information about condo insurance coverage and costs, contact Manchester, NH based Associated American Insurance.