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Living in a condo has many perks. You get to live in relative luxury equal to that of a private home, but you’re not responsible for maintenance or other expenses outside of your own private unit.
Did you know that your condo insurance policy from Express Insurance can offer you some additional perks as well? These benefits may make living in your Longwood, FL condo even more enjoyable.
1. Your Condo Association Coverage May Overlap Your Personal Coverage
The nature of condo living dictates that you share responsibility for your surroundings with a condo association. In addition to your own condo insurance policy, the association holds a master policy for the entire building and grounds.
Of course, this exempts you from being responsible for any issues that may go south in any common areas of your condo. For instance, if there’s an issue with the pool or if there’s a fire in a common lounge or media room, you are not liable, and neither if the coverage for your personal unit.
However, there’s one extra perk of the condo association’s master policy: it may have some overlap with your own personal condo coverage. Not all master policies are created equal, but in many cases, your association’s coverage may be responsible for any structural portions of your home, such as the floors and walls.
2. Condo Insurance Covers Personal Liability For Your Guests
Do you often have guests visit you at your condo?
If you owned a traditional detached home, you and your home insurance provider would be responsible if your guest got injured or had an accident at your home.
Similarly, your condo coverage offers the same type of liability for your guests. On top of that, your association’s master policy may cover your guests when they visit areas of your condo outside of your unit. Your own individual condo policy may cover your guests outside of the unit as well, depending on the tier of coverage you purchase.
3. Your Policy May Cover Condo Association Assessment Fees
This last perk does not come with most standard insurance policies, but it can be covered under a customized policy. If your condo association requires you to shoulder the costs of any damage to or maintenance to the common area of your condo along with your neighbors, your personal condo policy can take care of those costs for you.
This is very beneficial, as condo association assessment fees can add up, especially if your building is rather old or is undergoing a lot of regular maintenance.
Are You Ready To Purchase Your Condo Insurance For Your New Home?
Now that you’re moving into your new condo, it’s time to explore a personal condo insurance policy that is especially tailored to your needs. Contact Express Insurance for a custom quote today, so that you can start enjoying your new life in Longwood, FL.