When you own a condo you are responsible for insuring what’s inside. Your condo association’s policy doesn’t cover your personal belongings, and they may or may not cover your units interior fixtures (cabinets, flooring, etc). Make sure you are covered. Generally associations only cover the outside of the building, the unit walls, and common areas. Optional coverage for the association’s policy are any fixtures attached to your condo (cabinets, flooring, etc). What does your HOA policy cover? If you’re not sure, you need to find out. With condo insurance policies, Rancho Cal Insurance Services can help protect your property, loss of use, and liability exposure.
Coverage Options:
- Personal Liability
- Guest Medical
- Building Property
- Personal Property
- Loss Assessment
- Additional Living Expenses
What is Loss Assesment? This is an important coverage option for condo unit owners insurance policies. If your HOA suffers a loss that is not covered by their condo HOA policy, or if that policy has a large deductible, they can assess each unit owner to cover that cost. That means, they will send each unit owner a bill for their share of that cost. You can protect yourself from this unwanted surprise by having loss assessment coverage on your condo unit owners insurance policy.
Your HOA’s condo insurance policy may only cover the exterior of your unit. They may not cover theft, liability, upgrades, or your personal belongings. Protect yourself and your belongings with a condo unit owners insurance policy. Earthquake insurance is also available for condo unit owners. Rancho Cal Insurance Services in Murrieta, can help condo unit owners in Temecula, Menifee, Murrieta, and all over California, protect their investment.
