How Does Condo Insurance Work?

When you own a condo, the insurance that you need is not like the insurance that covers a detached home. There are many rules of ownership in condos that require an insurance policy that is just for you and your home. If you need condo insurance, call us at Friant Insurance Agency in Temecula, CA. 

The Walls of Your Condo

Unlike with a detached house, owning a cond does not mean that you own the entire building or even your portion of it. Generally, the walls are the demarcation point for the areas that you must insure. In some condos, this means that you own and must insure everything from the internal walls inward. For some condos, that means you must insure what is inside the walls as well as the interior walls. The outside of the building, and sometimes the insides of the outer walls, are owned by the condo board and must be insured by them. 

Your Personal Belongings

Like the interior of your condo, the belongings inside it are covered by your condo insurance. To make sure that your items are insured, it’s a good idea to take either pictures or video of the inside of your condo so that you see all of the items you own. This allows you to establish what was in the condo if the worst were to happen to it. 

Liability Coverage

As with other types of insurance for a home, a condo policy includes coverage for liability. If someone were to fall ill or become injured inside your condo, your condo insurance would pay for the medical bills if you are liable for them. 

Talk to an Agent

If you need condo insurance on your home, call us at Friant Insurance Agency in Temecula, CA to find out more.