Condos are interesting investments. While you may own the unit itself and can make changes to it, someone else owns the building as you must adhere to a condominium association's by-laws. The ownership of the condo is usually detailed in the master deed.
When it comes to commercial insurance, it may fall on the unit owner to have the right coverage for the property. While the association has overall management of the building, it may be your responsibility to insure everything in the condo from the walls to the floor. It will all depend on who manages the association and how much risk they take on with maintaining the conditions of the property.
As a unit owner, you want to make sure your condo investment is protected from fire, flood, theft and other hazards. Condo Master Policy Insurance can protect you if the insurance policy the association has does not, especially ...
Owning a condo is different from owning a house, which means that appropriate coverage for your needs will also differ. The best protection for a condo is not the same as a house because the problems you may face are vastly different. The best way to protect your home when you have purchased a condo is with condo insurance.
Read Through the Current Coverage
If you have a mortgage, then it is likely that the bank required homeowners coverage for your condo. The problem is that it will not give you the correct protection for the possible risks you face in a condo. It will only protect certain aspects of your condo. Read through the coverage to identify what you already have on your home and then look for additional protection that is specifically designed for a condo.
Getting Condo Coverage
After you know what you need, it is possible to get condo ...