Condo Insurance in Plainview, NY and Nassau County, NY
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Condo Insurance Quote Forms
Condo Insurance Information
Protect More Than Just Your Possessions.
Condominiums or condos are a great housing option for people who enjoy being part of a community setting with shared resources such as pools and activity rooms and significantly less maintenance. Like any housing you own, you still should have insurance, and condominium insurance can help protect you as a property owner.
What Does Condo Coverage Provide?
The condo insurance you purchase can help cover costs if you have property damage to your unit or a loss of personal belongings. It’s essentially homeowners insurance but for your condominium.
Condominium insurance is designed to meet your unique homeowner needs. This can include coverage for your possessions, structural improvements made to your living space and additional living expenses incurred if you have a covered incident.
What You Should Know About Your Condo’s HOA?
Condominium homeowner’s associations (HOAs) are required by law to have a master insurance policy that covers common areas shared between residents, such as a pool or clubhouse. However, a master policy usually doesn’t cover anything inside the individual condos, including walls, household goods or personal property.
It’s important to know what your responsibility is when choosing coverage. Affiliated Agency Inc. can help you obtain the coverage you need to protect your condo and belongings.
How Much Condo Coverage Do I Need?
Your condominium/co-op policy can help protect you from losses to your personal property and the interior of your unit. You will need to estimate the cost to repair or replace the inside of your home if it were damaged. Also, you will need to calculate the cost to replace your home’s contents. By making these estimates, you can ensure you have adequate coverage.
Most experts recommend that you insure your personal property for its replacement-cost value so you can replace yesterday’s purchases at today’s price tags.
In addition to your belongings, the liability-to-others portion of a condominium policy can cover you against lawsuits for bodily injury or property damage that you or a family member—and in some cases, pets—may cause to other people. Your policy may also pay litigation costs and court awards up to the limit of your policy.
Additional Insurance to Consider
There are additional forms of insurance you may want to consider for your condominium to ensure you have sufficient coverage for your particular living situation. These include:
Sewer backup—This coverage may insure your property for damage by the blockage of sewers and drains but doesn’t include flood protection.
Flood or earthquake—It’s essential to understand your location’s risks and look at coverage if needed.
How We Can Help
The Affiliated Agency provides quality insurance solutions to New York residents. Call us today at 516-576-0166 to discuss your insurance needs for your condominium.