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If you own a condo, you may be under the false impression that you do not need a condominium insurance policy. Since most homeowner’s associations or condominium associations have a master insurance policy, there is a misconception amongst condo owners that they do not need their own policy, but this is not the case.

Understanding Master Insurance

Your condominium complex’s master insurance covers all of the public spaces and the structure of your home. Thusly, if there were to be a fire you will still be responsible for replacing all of your belongings, your appliances, and in some cases even the fixtures and drywall in your home, making it critical that you purchase condominium insurance. Here are a few of the additional reasons it is critical that you purchase insurance for your condo.

Protection During Disaster

Not only will you be out thousands of dollars if the interior of your condo is destroyed in a fire, but you may also be without a place to live for weeks, or even months, during the repair period, adding additional stress and cost as you will have to find temporary housing. However, similar to homeowners insurance, many condominium insurance policies will provide you with temporary housing during the repairs, removing this burden from your shoulders.

Protection From Theft

If your house is broken into, a condo insurance policy will protect you by replacing anything that was broken during the forced entry, and by replacing what was stolen from you during the invasion. An insurance policy will ensure that you are protected and are not left on the hook for potentially thousands of dollars worth of damage and stolen property.

Liability Coverage

Condominium insurance is also critical in order to protect you in the event that someone becomes injured on your property. If a guest hurts themselves in your home and does not have health insurance, they may try to prove you are liable in order to make you pay for damages. However, most condo insurance has liability coverage, which will protect you in this scenario.

Finally

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
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Robert Macoviak

Rob 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.
Robert Macoviak
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