If you have purchased a condominium to call your home, your needs will not be the same as those of a homeowner or a renter. Keeping your condo and investment safe requires the unique coverage afforded by a Massachusetts condo insurance policy.
Condo insurance comes as a package policy, meaning it covers damages to your property and the liability and legal responsibility you have for any injuries and property damage you or members of your family cause to other people. Condo insurance provides coverage for your personal belongings. Condo insurance claims we commonly see include damages from fire, water, and theft (both on and off premises). Much like with homeowners or renters insurance policies, we offer inventory forms to help you come to the right number when it comes to calculating the value of your insured personal property.
Another big advantage for condo insurance is the coverage it can provide for building items like built-in appliances, carpeting, and cabinets, as well as providing a degree of coverage for interior structures like walls, floors, and ceilings that you may be responsible for under your condo trust agreement. You cannot count on your condo association’s master policy to protect your unit here.
Massachusetts condo insurance also provides coverage for loss assessment. Sometimes condo associations will assess condo owners for losses that occur outside of the walls of the owners’ individual condos. For example, if a club house burns to the ground and is not fully insured, the condo association could bill you for a share of the cost to replace it.
Coverage for personal liability covers situations where a condo insurance policyholder is obligated to pay because of bodily injury or property damage caused to another person. Typically, coverage limits of $300,000, $500,000, and $1,000,000 are available.
Sampson Insurance Agency is highly experienced in designing Massachusetts condo insurance policies to meet the individual needs of condo owners. We highly recommend that you look into several other areas of coverage that compliment condo insurance nicely. If you have jewelry, furs, collectibles, cameras, memorabilia, or other valuable property, give us a call and ask how valuable articles insurance can keep these special items safe. An umbrella liability insurance policy can help keep you safe from losses that exceed the limits of your condo, auto, and other personal insurance policies. This can be a cost effective way to mitigate the risk of catastrophic loss.
Call us today to discuss how we can work with you to keep your condo and belongings safe with Massachusetts condo insurance, and get started on your free instant quote above!