For those living in the Dallas/Fort Worth and surrounding community, condo insurance is intended exclusively to cover all of the contents you hold near and dear inside your condo. Condo insurance and home insurance are definitely very different, as condo insurance is designed primarily for those who either own or occupy a unit insured by a condominium association. Perhaps you are wondering whether it’s as important to have condo insurance as it it to have home insurance or other types of insurance. It is. Condo insurance protects most of the same things that a regular homeowners policy does. The main difference being that your condo association insures parts of the dwelling as well.
The Condo Owner is Responsible for Their Belongings
Perhaps you thought when you signed up with your condo association, they would be responsible for your protection as well as for your belongings, but you are responsible for your contents and personal property. It is for that reason that having condo insurance is so critical to your needs. Yes, it’s true that a condo association does cover property and common areas including the structure of your condo building, but these types of policies do not cover personal property, nor do they protect you from any legal responsibility that might occur with a neighbor or guest. Hence, the importance of condo insurance!
What Condo Insurance Covers
In general, basic condo insurance covers damages to the majority of your personal belongings in addition to covering walls and floors. At DFW Insurance, we’ll help you shop for the best condo coverage for your needs. Some of the most important condo insurance coverages will cover personal property, replacement value of your primary dwelling up to a particular value, bodily injury if someone is hurt on your property, liability for property damage and damage protection from dangers which might include things such as fire, vandalism, frozen pipes and glass breakage. Other things that Condo Insurance covers include:
- Smoke damage
- Vehicle damage
- Falling objects
- Accidental eruption of hot water heating system
- Discharge of water
Deductibles for Condo Insurance
If you’re not certain about how deductibles work for condo insurance, it’s quite simple. They work the same way as a home or auto insurance deductible. If you have a $350.00 deductible, it means as the condo owner, you will pay $350.00 toward the loss in a claim before the condo insurance policy picks up the rest. It is important to consider the options when it comes to deductibles. The difference in deductible amount can greatly change the premium you pay and, in addition, you need to feel comfortable with your price, coverage, and deductible.
Compare Policies and Coverages
The best way to get the lowest rates for condo insurance is to compare multiple quotes from DFW Insurance listed providers. As a local, independent agency, DFW Insurance lists only the top condo insurance companies in the business. When you’re ready to purchase Condo Insurance that covers all the inventory of your Condo, let DFW Insurance help you find the top insurance producers. With Condo Insurance you’ll have coverage for personal property, loss assessment and personal liability that keeps your condo safe and protected. Search our top listings today!