Just like homeowner’s insurance, if you own a condo, you are going to need insurance for it. Though you may think that you don’t, that couldn’t be farther from the truth.
Here are some reasons why you need condo insurance.
Your mortgage may require it. Most of the time, when you get a home or condo with a mortgage, they are going to make you have insurance for it. They want to make sure that their investment is protected, in case anything happens to it.
It will cover damage that occurs to your condo. If a storm damages your condo, your insurance will help you cover the cost to fix it. It will also fix damage due to water, fires, and much more.
It may also cover extra expenses if you are unable to live in your condo. If you have to live elsewhere while your condo is being fixed, you may be eligible for money to help you cover the extra costs that occur.
Your condo insurance will help you replace your belongings if something happens to them. Whether someone breaks into your home or water (or fire) damages some of your belongings, your condo insurance will help you replace these items.
It will also protect you if someone gets injured in your condo. If someone falls in your condo, you may be responsible for their medical bills. They may also choose to sue you. Your legal fees can quickly add up. Your condo insurance will help cover these expenses.
If you want to learn more about condo insurance, don’t hesitate to contact us today at Armorcrest Insurance Services in El Centro, CA. We would be glad to discuss your needs to find a policy that is right for you.