Condo Insurance
Condos are cheaper alternatives to owning a family home and are more flexible than rentals. As a condo owner, you may not own the land your condo sits on, but you need insurance for your belongings. Condo insurance is similar to home insurance, as it protects the condo interior and your belongings outside. Riverside Farmers Insurance is here to offer more details on this insurance and why you may need it for your condo in Maryland.
What Is Condo Insurance, And Why Do You Need It?
Condo insurance is a policy purchased by condo owners. It protects your assets/belongings in the condominium against theft, fire, and any other accidents that may cause costly damages. This policy is essential even if you have the HOA master policy, as it may cover what the master policy does not cover. For instance, the HOA master insurance may cover the building but may not protect you if water breaks in and damages your appliances or if you get an injury in the house.
Condo policies protect your personal property and the entire interior aspects. It may also offer liability protection for any bodily injuries you or your guests sustain while in the condo.
What Does Condo Insurance Cover In Maryland?
Condo insurance provides protection and liability coverage for your belongings in the condo in case of theft, fire, or any event that causes damages. A few things that the insurance may cover include:
- Personal property
- Interior walls
- Medical payments for bodily injuries in your condo
- Accidental liabilities, like your dog biting someone in the condo
Like with home insurance, condo insurance may not cover damages caused by negligence or intentional damages. Get all the information beforehand to make informed decisions.
Reach Out To Us
Riverside Farmers Insurance is an independent insurance agency with highly trained service agents. We help condo owners make informed decisions about condo insurance. Contact us today for any questions, and we will gladly offer assistance and clarification where needed.
