New Condo Owner? Why You Need Condo Insurance

Once you’ve finalized the purchase of your new condo in Laguna Hills, CA, the next step is getting condo insurance to protect your newly acquired investment. Your condo’s master insurance policy will protect your building and common areas. You are responsible for safeguarding your individual unit and its contents. An individual condo insurance policy from Friant Insurance Agency will ensure you have the protection you need. Here’s how condo insurance protects your interests:

Dwelling Coverage

Dwelling coverage will protect the interior of your unit to include cabinets, flooring, light fixtures, built-in appliances, and shelves, etc., against such perils as fire, vandalism, and inclement weather. If your cabinets are destroyed by a kitchen fire, your dwelling insurance will pay to have them repaired or replaced, as per the coverage on your policy. Your Friant Insurance agent can help you determine how much dwelling coverage you should get, taking into consideration the value of your condo.

Personal Property Protection

Personal property protection covers your personal goods such as clothes, jewelry, electronics, furniture, artwork, and other belongings. If you own costly goods, you’ll want sufficient coverage to replace your valuables in the event they’re stolen or totally destroyed. High-ticket items like original artwork may need more coverage than what a standard condo policy has to offer. If so, you can get an endorsement to fully protect these goods. 

Personal Liability Protection

Personal liability protects your assets if a visitor gets injured while on your property and sues you for damages. This coverage helps pay for your visitors’ hospital bills so you don’t have to. It also covers legal expenses if you’re sued for damages. If you entertain often, personal liability coverage is a must.

To learn more about condo insurance and all it has to offer, contact Friant Insurance Agency in Laguna Hills, CA.