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Condo
associations insure your "outside."
You have to insure your "inside"
If you own a condominium, your condo association probably has a
master policy that insures all the property and common areas that
are collectively owned by the unit owners. These policies usually
cover the actual structure of your home, so you don't need to purchase
this coverage separately.
However,
a condo association policy doesn't cover your personal property
or your legal responsibility and may not cover improvements or custom
work on your unit.
Our condominium programs are designed to protect your prized possessions,
protect you against any personal liability, and provide assistance
should your home become damaged or unlivable. Homesite's
Condominium policies include the following protections:
- Your
personal property up to the limits you choose to purchase.
- Your
primary dwelling (replacement cost value of your residential unit
and certain permanent attachments) up to $5,000 or 10%* of your
personal property limit, depending on the state you live in.
- Coverage
for loss of use (reimbursing you for expenses for loss of use
of your home caused by named perils up to 40%* of your personal
property limit with no time limit).
- Medical
expenses (paying up to $1,000* per person if someone is injured
on your property).
- Liability
exposures (protecting you against certain risks up to $100,000*
per accident for bodily injury or property damage).
- Expense
of loss assessment by the association against the unit-owners,
up to $1,500*.
- Protection
from damages resulting from freezing of plumbing, vandalism, and
other causes.
- Other
dangers, including damage or loss due to vandalism, malicious
mischief, glass breakage and more.
Additional
coverages are available for property such as personal computer equipment,
business property, jewelry, bicycles, cameras, etc.
*
Increased limits are available for additional premium.
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Condominium Facts
& Information
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