Have you recently purchased a condo or plan to in the near future? If so, you will need to consider the benefits of purchasing condo insurance over homeowners insurance. Although condo insurance is not required in the state of Virginia, a condo policy for condo owners can protect their personal property and liability during any unforeseen accidents. Insurance Shopper VA offers both policies to condo owners in or around the Virginia Beach, VA area.
What is the structure coverage?
When purchasing condo insurance, coverage of exterior damage is not required. In most cases of condo ownership, the Homeowners Association (HOA) insurance of the building is responsible for exterior coverage in most cases, Since condo owners are only responsible for the interior, condo insurance covers exactly what you need as an owner. Home insurance has a focus on the structure as a whole, including the exterior that your purchase does not include. When you purchase your condo, review the terms of the HOA insurance policy, if one exists, to determine what their coverage is on the building structure.
What is the security of my personal belongings?
Like the limited structure coverage through the HOA insurance, personal belongings are not commonly affiliated with the policy. With condo insurance, this is critical, as this policy insurance your personal property allowing your security and peace of mind during accidental damages or theft of your property. Home insurance policies also have personal property coverage in their policies. For each condo and home insurance policies, it is important that you inventory all of your belongings when developing your policy.
Since condo owners only own the square footage inside their condo, the liability that they are responsible for includes any accidents that occur within those walls. Condo owners are not responsible for the property surrounding the condo. Homeowner insurance covers not only the dwelling of the owner but the residential property surrounding the structure.
Contact Us Today!
If you are looking for a quality condo insurance policy in the Virginia Beach, VA or surrounding areas, contact Insurance Shopper VA. One of our agents is ready to assist you with your policy today.