Do You Have The Right Level Of Coverage?
As a condo owner, you have the luxury of not needing as much insurance coverage as a homeowner does. Due to the fact that your HOA has insurance that protects the exterior of your building and common areas, you do not need to worry about damages that befall those parts of your building and grounds. You do, however, need coverage for your personal property, and to protect you from liability.
In fact, if you have any co-ownership of property—such as having a unit in a duplex or triplex—you should secure insurance coverage to protect yourself. You would not want to be left footing the bill to replace all of your personal possessions in the event of fire or theft.
A type of coverage that is important for condo owners to secure is emergency assessment insurance. This coverage can protect you from the unforeseen. If something serious happens to your building, such as a water leak resulting in major damage, this coverage will reimburse you for lost property. While it is not designed to cover regular repairs, common updates, and maintenance, it can give you peace of mind to know that an emergency will not result in a financial burden that you are unable to bear.
Are you working with an insurance agent who will take the time to understand your specific living situation and the type of coverage it requires? Contact Lou Aggetta Insurance Services in Pleasant Hill for all of your California, Nevada, and Arizona insurance needs. We have been providing residents in these states with unmatched insurance coverage since 1981. Our dedicated team of agents is here to come alongside you, assess your exposure to risk, and help you eliminate it. You deserve to have comprehensive coverage this year. Do not hesitate to call us today!