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ASZ International, Inc.

200 Summit Lake Drive
Suite 220
Valhalla, NY 10595

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What Does Condo Insurance Cover?

Condo insurance is essential to have in place to protect against any losses or repair costs for your condominium unit. The agents at ASZ International Inc. in Westchester, NY want you to know what condo insurance covers and why it is important for your New York condo.

Why is Condo Insurance Important?

Most of the time, the condominium association that governs the complex in which your condo is located has its own coverage in place. Their insurance may only cover the building in which your condominium is located and common areas throughout the complex and liability insurance for the association. This means if someone breaks into your condominium or is injured while visiting your condo, you are liable for those costs, which is why you need your own condo insurance policy.

What does a condo insurance policy cover?

While the bylaws of your condo association and state laws will determine exactly what the association must cover with its master insurance policy, it is up to you to obtain a condo insurance policy that works well for you and your situation.

Most of the time, condo insurance will cover the interior walls and possibly the fixtures inside your condo. It can also cover damage to your condominium caused by smoke, fire, lightning, a windstorm, theft, vandalism, or malicious mischief. It can also cover what is referred to as an accidental discharge of water inside your condo.

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It is imperative that you have your own condo insurance policy in place to cover the many things that the condo association’s insurance will not cover. Contact one of the experienced and trusted agents at ASZ International Inc. in Westchester, NY today to get your policy started!

Rising Commercial Auto Rates

If you are a business owner and you have commercial auto insurance, then you may have noticed that your rates have been increasing. Let’s look at why commercial auto insurance rates are on the rise.

The Cost of Claims
One of the primary reasons for an increase in commercial auto insurance rates is the cost of claims. The more expensive the claim, the more likely it is that insurance companies will need to increase their premium prices in order to offset costs. It is important to note that this isn’t necessarily something specific to commercial auto insurance; rather, it has become increasingly difficult for insurers to make money in general as the cost of claims continues to rise.

Risk Management Practices
In addition to rising claim costs, another factor contributing to higher premiums is risk management practices. As technology advances, there are more ways for insurers to identify and manage risk effectively. For example, insurers can now use predictive analytics and telematics data to assess a driver’s risk profile and adjust their premiums accordingly. By implementing these practices, insurers can better manage risk and protect themselves from potential losses.

Changes in Auto Insurance Market
Finally, the changes in the auto insurance market also contribute to rate increases. In recent years, there has been an influx of new competitors entering the space offering low-cost policies with attractive benefits. This increased competition has driven down prices overall but also created an environment where insurers must continue raising their rates just to stay competitive.

Overall, commercial auto insurance rates are increasing due to a variety of factors including rising claim costs, risk management practices, and changes in the auto insurance market. While this can be frustrating for business owners who rely on their vehicles for work-related purposes, we can help you make informed and proactive decisions. Contact us at for assistance.

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  • ShelterPoint
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  • US Assure
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  • Zurich

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