How Condo Insurance Protects You

Whether you just bought a brand-new condo or have had it for a while, you should consider purchasing insurance to protect it. Investing in a condo is similar to buying a single-family home in that it is your house and all of the things inside are precious to you. When you talk with your insurance agents at The Insurance Shop USA in Sandpoint, ID, they’ll discuss your options and help you decide what coverage you’ll like based on your needs.

What Is Condo Insurance?

Condo insurance is protection for you just in case damage happens to your belongings. The protection is there to replace what you’ve lost and repair any damages. In Idaho, you can purchase what’s known as a unit-owner policy. With a unit-owner policy, you’ll have protection against damages due to a fire, vandalism, theft, or any other hazards that are covered under your policy.

Why You Need Protection for Your Condo

While your condo association should have insurance that covers the exterior building and grounds, you should have coverage for the interior portion of the unit you’re living in. If a fire starts outside of your building and travels to your home causing damage to your belongings, the association will be able to take care of the repairs for the property outside, the building’s exterior, and any items that were part of the unit, such as the refrigerator and stove. You would be responsible for taking care of the costs for your belongings, like furniture and clothing. The interior floors, ceilings, and walls should also be protected with your coverage.

What to do Next

Once you’ve looked over your condo association’s insurance policy, then head to The Insurance Shop USA. If you’re in or near Sandpoint, ID, their associates will be able to get you started with insurance for your condo.