Condominium Owners Insurance

Just because you don’t own the roof over your head doesn’t mean you don’t need protection against the storm! Many people think their condo association insurance will cover them and it’s a good place to save some dough. Wrong! If the condo roof blows away in a storm, the association will fix it, but they won’t replace your rain-wrecked paintings or the family heirloom quilt that blew away with the roof.

If you want protection against accident, damage, theft or other setbacks that could bring financial ruin, you’d better take care of it yourself.

If the day comes that you need it, condo insurance will be the best purchase you ever made.

Owners of condominium units face some specific insurance needs and problems.  Almost all associations have a “master policy” insurance that covers you for the actual structure and common elements – areas such as swimming pool or tennis court – owned by all unit owners.  The association documents and the master policy spell out very specifically where common areas end and where your unit starts.  In addition, if a covered peril should make your condo uninhabitable, your policy has a provision to cover the additional living expense you incur when you have to temporarily live somewhere else

Personal Liability – A condo insurance policy will also provide liability protection for incidents such as someone tripping and falling while in your unit.

 

Fischbein Insurance Services
1660 Highway 100 South, Suite 500
Minneapolis, MN 55416-1551
952.956.9644

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