If you own a condo, chances are you pay a monthly fee to a homeowner’s association. Part of that fee goes toward insurance which covers the common areas of the structure. However, in order to insure your own condo you must purchase Condo Insurance in Massachusetts. Here are some of the options when it comes to condo insurance:
1. Bare Walls-in Policy
This policy covers the condo structure itself. It does not cover any fixtures or anything added to the structure. Therefore, the countertops, flooring and faucets would not be covered under this insurance policy.
2. All-in Policy
This policy does not cover the actual condo structure. Instead, it covers anything added to the structure including cabinets, lighting and doors. This policy is nearly opposite of a bare walls-in policy.
3. Content Coverage
Not only do you need to insure your condo itself, but you also need to have your personal property insured. This coverage can be customized according to the value of your possessions. Calculate the value of your personal property to help you determine how much content coverage you need.
4. Flood and Wind Damage
Flood and wind damage is not covered under a basic condo policy. If you live in an area where wind or flood damage is a concern, contact an insurance agent to find out more information.
Condo insurance is important for all condo owners. There are several options when it comes to condo insurance. Contact an insurance agent to help you determine which Condo Insurance in Massachusetts is the best option for you.