Condo Insurance

So you have finally moved into your dream condo in Colorado. You have bought expensive electronics, clothes and other furniture. However, how secure are your belongings? To give you peace of mind while you are away from your condo, get condo insurance. While many people do not think about getting condo insurance, they sure wish they had it when their items are stolen or damaged by a fire. Below are a few details you need to know about condo insurance and what it covers.

Personal liability coverage

One of the most exciting things about having a condo is having to entertain friends and family in your condo. However, accidents do happen and your guest might have an accident and get hurt, and it is your fault. In this case, the condo insurance will cover not just the medical bills but also the legal expenses if any.

Personal property coverage

Your belongings including appliances, furniture, clothes, and electronics are usually covered under personal property coverage. If anything were to happen to them such as you lost them in a fire or they were damaged, stolen or vandalized the insurer will help to either replace them or repair them. However, it is important to note that there is a maximum limit that you will be reimbursed.

Additional living expenses coverage

If by bad luck your house is no longer hospitable, either because there was a fire or flood damage. You have to move into a hotel until the repairs are done, in such a case condo insurance will cover any extra living costs that you will encounter for not staying in your condo.

Improvements and betterment protection

This covers any upgrades that you might want in your condo. Such projects could include improving the carpet that was provided to you. However, it has a limit.

If you are considering moving into a condo, contact the experts or visit Shenandoah Insurance Agency Inc. in Colorado.