Condo insurance in Pennsylvania not only provides coverage for your personal property, but it also provides much more. It covers your liability and the alterations, improvements, or additions you may make to your condo. Insurance protects you and your family from property damage liability and bodily injury liability claims. You can also have medical payments coverage, which pays for any medical expenses for visitors that are injured at your property, regardless of who is at fault. Your personal property may not seem like a lot, but if you take inventory, you may see that everything added up has a lot of value.
When choosing a condo insurance policy in the state, it's important to consult with your homeowner's association (HOA) to determine what the association covers and what you are responsible for. There are three types of coverage considered under a master policy. The HOA's coverage will typically include the common areas and primary buildings, your unit and items within the unit, except for personal belongings, and then the building and any fixtures. Individual coverage will need to be determined based on this. If common areas are damaged, then the condo association may have assessments against the owners to pay the deductible for the association. It’s important to know the master policy deductible because it could represent a substantial financial contribution should you ever need to pay these assessments.
An agent at White Rose Insurance Agency, LLC can help you determine what kind of coverage you need. Optional loss assessment coverage can help you with these assessments. Even though condo insurance can cover a lot, you will need to make decisions about coverage options, such as replacement coverage or full coverage for your belongings. Full coverage means that you are reimbursed the full replacement value without depreciation after a covered loss.
Contact White Rose Insurance Agency, LLC to get a quote on condo insurance.