Condo ownership can be an affordable way to get onto the property ladder, and it also offers maintenance-free exteriors, which are appealing to many people. At ASZ International Inc. in Westchester, NY, we provide the information you need about condo insurance so that you can make an educated choice.
Condo property insurance covers the interior of the unit. The condo master policy covers the exterior. It covers things like plumbing, fixtures, electricity, and built-ins.
Your liability coverage with a condo policy is for the interior of your unit and your family members when they are away from your condo. It can cover your pets as well if they are not excluded.
Personal property insurance
Personal property covers things that you own in your condo unit. It covers them for things like theft and damage. They are covered when they travel with you as well. You can choose to cover your personal property for its current value or the cost to replace it. Some things have limits on the amount covered, and this includes art, antiques, and jewelry. A rider can extend this coverage.
Loss of use coverage
If a covered peril damages your condo, you may not be able to stay in it for a period of time. If you have loss of use coverage, it will help to pay for a place to stay in the interim. This can be a hotel or a rental, depending on how long you will be unable to live in the condo. Some meals may also be covered if you don’t have a way to cook them yourself.
Contact our office at ASZ International Inc. in Westchester, NY, when you have questions about condo insurance coverage. We can be reached on the telephone or stop in at our office.