What is Condo Insurance?

Condo insurance is a type of residential property insurance and is there to protect you on several fronts. Don Atwell & Associates serving the city of Desoto, TX would like you to know that they are available to assist you with any queries or insurance needs you may have.,

Condo insurance is there to cover the following:

The inside of your condo or apartment includes but is not limited to fixtures, fittings, and appliances. The exterior of your condo will be covered by a different type of insurance.

Personal possessions such as clothing, televisions, and furniture. This does, however, exclude any high-value items that are not specified, and you may need to consider additional coverage for these items.

Condo insurance may cover the medical bills of your guest if there is an accident.

Liability – this is a big one. It should cover you for any injuries a guest may sustain to themselves or your property while inside your residence. It also covers you if there is accidental damage to the property caused by you or your family members, including pets.

Additional living expenses (ALE) are for when you are displaced for a particular reason while your home is repaired. Please review the policy wording here carefully.

Condo insurance can be comprehensive. To provide sufficient coverage, you need to be aware of your requirements including, but not limited to, the value of your possessions and the replacement cost or cash value of your fixtures and fittings. Furthermore, in Texas specifically, there will be exclusions. Flood insurance is usually extra coverage that needs to be purchased. Hail and windstorm insurance is another.

Condo insurance protects your residence, so contact Don Atwell & Associates serving Desoto, TX today and make sure that you and your home are covered.

Who needs to get condo insurance in Lancaster?

When you live in the Lancaster, PA area, you should consider buying a home. One type of housing option to consider is to purchase a condo, which provides the benefits of homeownership but comes with fewer maintenance responsibilities. As you are looking for a new condo, you should also consider your insurance needs. There continue to be various situations when someone in this area of the state needs condo coverage.

Those with a Mortgage

A common situation when someone will need to have a condo insurance plan will be when they take out a mortgage. Most property buyers in this area will want to finance their purchase with a mortgage. If you have taken out financing, your mortgage lender will have insurance rules that you need to meet. To ensure you remain covered at all times, they may require that you escrow for your payments each month.

Those with Association Rules

Most of the time, a condo owner is going to be part of a larger condo association. Most condo associations will also have a set of rules and bylaws that need to be met. One common obligation is the requirement to carry condo insurance at all times. The association will have specific rules about insurance, but they likely will require that you provide regular evidence of coverage. 

If you would like to get a condo insurance plan when you are in the Lancaster, PA area, it would be a good idea to call the Waller Insurance Agency. The insurance professionals with the Waller Insurance Agency understand how valuable and important this coverage is. They can give you the support that you need to choose a plan and keep your condo properly covered by insurance at all times.

Is Vandalism Covered by my Condo Insurance?

Don Atwell & Associates are continually working to help condo owners in Desoto, TX maintain their property and keeping it looking its best. Vandalism can occur at any time and without warning. This type of destruction of property can be costly to repair, so you need to talk to your agent to ensure that you have the proper coverage.

Know Your Property Boundaries

Condo ownership means that you own your home. As part of a community property, however, you will need to know your property boundaries. With condos, it can be challenging to determine where your property ends and your neighbors’ property begins. If you are unsure, talk to the property management group that takes care of the primary property.

Talk to the Property Owner

If you experience any type of vandalism, theft, or other types of destruction of property, talk to your property management company. Some of your neighbors may be experiencing the same problem. Working together may result in finding a solution for keeping your property safer and better protected.

File Your Claim

Once you’ve talked to your property management company, file your claim with your insurance agent. They may also recommend filing a police report as well. Take pictures of the damage and document as much as you can. The more information you have, the better off you will be when making the necessary repairs.

In DeSoto, TX, condo owners are passionate about protecting their property and their homes. The agents at Don Atwell & Associates are ready to assist them in any way possible. When you notice vandalism to your condo or property, call one of their agents right away! Don’t wait to file your claim!