Top 5 reasons to get condo insurance

Whether it’s your rental property or primary residence, you must make sure your investment is safe by getting condo insurance. Here are the top 5 reasons why you should get condo insurance:

  1. Liability Issues: Let’s say you or your tenant has a guest that gets injured, you can be heavily sued as the owner of the condo. Without a solid condo insurance coverage, you might end up paying out-of-pocket substantial amounts to settle such cases.
  2. Master Policy Deduction: Any assessment on the condo that exceeds the coverage of the master policy coverage can be billed to the owner for payment. This means you as the owner of the condo you might end up paying for this amount. This is where your condo insurance will protect you.
  3. Theft: Your furniture, electronics, clothing, etc. are vulnerable to theft but you can have peace of mind by having the ability to file a claim through your personal property coverage on your condo insurance.
  4. Can’t Live in Damaged Condo: In an unfortunate incident such as a fire at your condo, you or your tenant will not be able to live in the condo. Insurance policies can offer you a coverage that provides expenses to temporarily live elsewhere in such situations.
  5. Lost Rental Income: Certain condo policies have a provision to offer lost rental income to condo owners for a specific period of time in situations where the condo is not inhabitable.

Insurance Shopper VA in Virginia Beach, VA has just the expertise you require. Their well-trained agents will guide you to the best condo insurance policy for your needs. Do not let this opportunity to secure your investment slip by, visit their website for their contact information and get your policy started immediately.