Condominium insurance covers everything within your unit, including personal possessions, such as clothing, furniture, artwork, and appliances. It also covers the interior structures of the unit, including walls and cabinetry.
What Additional Coverage Options Are Available For Condo Owners?
While standard condo insurance may be all that most owners need, some can benefit from additional types of condo insurance policies. If special circumstances apply to your situation, you may want to consider:
- Water and sewer backup coverage: This type of protection, covers personal property that is damaged by an overflowing drain or broken sump pump.
- Unit assessment: This additional coverage reimburses you for your share of an assessment charged to all unit owners as a result of a covered loss.
- Umbrella liability: This broadens your coverage at an affordable rate.
- Flood and earthquake coverage: If you live near a body of water or your condo is located in an area prone to earthquakes, the condo association most likely has flood and earthquake coverage already in place for the entire building. If the association does not offer this coverage, however, consider adding earthquake coverage to your condo insurance policy and investing in an additional flood insurance policy.
- Floater or endorsement coverage: If you own valuables, such as high-end furs, jewelry, or collectibles, you may want to increase your coverage, as reimbursements on standard policies may have limits as low as $1,000.
Depending on your circumstances, these optional add-ons can help protect your clients from the serious consequences of unexpected hazards.
We’ll Find the Right Condo Insurance for You
We understand you want to provide your clients with the best coverage at the best price. Lets Bind Insurance is an independent agency, which allows us to choose policies and providers that are tailored to meet your individual needs. Our premier insurance partners include Chubb Insurance, Plymouth Rock Insurance, Travelers Insurance, and The Andover Companies. We also offer plans from AIG, Franklin, Farmers, Fitchburg, Federal, Norfolk and Dedham, Great Northern, Merrimack, Baystate, Progressive, Cumberland Insurance Group, Fidelity National, and a long list of other top-quality insurance companies.
We’re committed to helping you find your clients the best condo insurance plans at the most affordable rates on the market.
To learn more, contact us today at 845.406.4141 to request a quote.
