What Is Condominium Insurance?
A condominium is a large property complex divided into individual units and sold. Ownership usually includes a nonexclusive interest in certain “community property” controlled by the condominium management. Condominiums are great alternatives to renting an apartment or owning a single-family home. Condos come with a lot of benefits and their own unique insurance needs. Insurance for a condominium is coverage that helps protect against losses and repair costs for a condominium unit. This insurance often can also provide personal protection is something like water damage, fire damage, vandalism etc.
Why You Need Condominium Insurance
When you take out a mortgage for your condo, the lender will require that insurance is held on the property. This insurance is to protect the bank’s interest in case something happens to the property. So, getting insurance for your condominium is mandatory. There is a difference between homeowners’ insurance and condo insurance. Similar to the Homeowners Association, there is a Condominium Association. The policies for condominiums will differ from condo complexes. Some condominiums will also require insurance that covers the interior walls and the appliances.
How Oyer Insurance Can Help
At Oyer Insurance we know how important money can be. We offer a wide selection of policies that can fit all your condominium insurance demands. We are licensed to handle all your insurance needs. Our office represents many insurance companies, and we compare coverages and prices to get you the best possible value for your individual circumstances. Here at Oyer, Macoviak and Associates we are dedicated to making sure you get the coverage that you need.
If you would to like to discuss your options for condominium insurance please call us at 561-732-9305 our quoting hours are Monday through Friday from 8:30 AM to 5:30 PM. In addition, you can request a quote online. Please remember, We Handle All the Work, While You Save!
Robert Macoviak is the President of Oyer, Macoviak and Associates. Oyer, Macoviak and Associates is the oldest independent insurance agency in Boynton Beach and has been in business since 1953. Oyer, Macoviak and Associates are vested members of the community who are committed to doing business face-to-face and being your insurance advocate in times of need.