Condo Unitowners Insurance

Don't get caught without condo insurance. First off, the condo association insurance doesn't cover any of your personal belongings or building upgrades. If there is a fire, you may need to replace all of your belongings, which could easily be over $50,000 then pay out another $30,000 to $60,000 for carpets and walls and other upgrades.

Also, you should have the liability coverage provided by a condo unitowners policy. What if your dog bites someone or a visitor slips and falls on your stairs? You could be sued for large amounts of money. Are you prepared for that?

Lastly, don't forget to ask your insurance professional about loss assessment coverage. Did you know that you could be assessed for damages to your building that are not even a part of your unit? For example, if a part of the roof blows off in a heavy wind, you may be required to pay an even share for the number of units in your building to cover the deductible, which could easily be $10,000 or greater.

Any other questions - call me at 408 371-8181 during business hours.

I'll be posting occasional tips on various types of insurances in the areas of fire, auto, life, health and small business insurance. Come back soon!