6 Condo Insurance Guidelines

Buying a condominium is a great investment as your first home, since they are usually less expensive and do not require as much maintenance, such as taking care of a yard. When it comes to insuring your condo, keep these 4 guidelines in mind.

  1. Look at your master policy. The master policy of the entire complex will usually insure all of the common areas, but you will be responsible for insuring everything within your unit.
  2. What is the cost of the association deductible? The condo association will usually provide coverage from a natural disaster, as long as you meet the deductible.
  3. Know how much coverage is appropriate. A good way to estimate how much coverage you need is base it off half the market value of your condo.
  4. Make sure both your structure and contents are covered. Make sure you have enough coverage to pay for damage to the physical building, as well as all of your belongings in the house.

For more information about choosing the right condo insurance in the Monument, Colorado area, contact Warrior Insurance.

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