Texas Corners: 6939 W Q Ave, Kalamazoo, MI 49009

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Condo Insurance

Kalamazoo & Portage MI Condo Insurance

Kalamazoo & Portage Condo Insurance Policies

What It Is:

Condominium insurance is a type of property and casualty insurance that covers your belongings and in some cases part of the structure of the condo from damage or loss by many named perils, including fire, wind and rain.

Who It Is For:

Condominium insurance is for anyone who owns a condo. If you live in your owned condo, you need to have insurance to protect your belongings and, in some cases, appliances and other fixtures. If you own the condo but rent it out, you may need both a condominium insurance policy and a landlord policy.

How It Works:

Insurance for your condo works much like any other type of property/casualty insurance. If you sustain damage from what you believe is a covered event, you will have to notify your insurance company, which will send out an adjusted to evaluate the damage. Once the claim has been certified, you likely will be sent a check to cover your loss. If your unit is uninhabitable and you have loss of use coverage as part of your policy, your insurer will pay for you to live somewhere else.

Types Of Coverage:

The type of condo coverage you need largely depends on what type of condo master policy the building owner or homeowners association carries. If it is an all-in policy, it will cover everything that goes with the unit, including wiring, plumbing and appliances. In that case, your condo policy would only need to cover your personal belongings. If the master policy is a bare-walls policy, however, then your condo policy has to cover everything on the interior of the condo, including plumbing, wiring, carpet and appliances.

Major Benefits:

The major benefit of carrying condo insurance is that you are covered against loss in the event of a disaster. Another benefit is personal liability coverage to help cover you if someone is injured in your unit.