Even if your condo association provides insurance for your property, you still need your own coverage to protect yourself, the things you own, and the parts of your condo not covered by your association’s master policy. When the unexpected happens, you need more than partial coverage to pick up the pieces and start again. Here at Billy Brown Insurance, we offer personalized condo insurance policies designed to fill in your coverage gaps and help minimize your exposure to risk.
Wisconsin Condo Insurance
A personal condo insurance policy can include a wide range of coverages personalized to meet your needs. These include:
Property Damage
Every condo owner has different property damage risks depending on the coverage in the condo association’s master policy. Usually, master policies will cover the exterior structure of the condo and perhaps the exterior walls and floors. Some may even include coverage for interior walls and certain finishes, such as the flooring or cabinetry. On the other hand, some condo association policies may offer little or no coverage for the interior of your property, leaving you to cover the cost of replacing light fixtures, countertops, baseboards, flooring, trim, and more. At Billy Brown Insurance, we can help you assess your coverage needs and build a condo insurance policy designed to minimize your out-of-pocket costs in the event of a covered loss.
Personal Belongings
It’s not just your condo that is at risk of loss – your personal belongings could be, too. If a fire destroys everything you own, personal belongings coverage can reimburse you for your loss, giving you the funds you need to start again. From your clothing and furnishings to your electronics and décor, most home items are covered. Keep in mind that certain categories of items have limited coverage. Therefore if you own high-value items such as expensive jewelry or a collection of fine art, you may need to schedule additional personal property coverage for those items.
Loss of Use
If you are unable to safely live in your condo due to a covered event, loss of use coverage can help you afford the cost of living elsewhere while your home is being repaired and restored. This may include the cost of living in a temporary apartment or hotel, as well as the cost of meals, doing laundry, and other related expenses.
Loss Assessments
As a condo owner, you and your neighbors share responsibility for your building and any accidents that happen on the premises. Together, you pay for a master association policy that provides liability protection and property damage coverage for any incidents that may occur. However, any financial responsibility that exceeds the limits of your master policy could then be passed onto you and your neighbors. If your condo association levies an assessment against you, your personal policy can help cover the cost.
Liability
Liability coverage is an important part of any condo insurance policy, as it protects you against the financial cost of a lawsuit. As a condo owner, you can be sued for injuries and other third-party losses that occur in your home or as a result of the activity in your home. Your liability coverage can help pay for your financial responsibility when you or a member of your household damages someone else’s property or causes an injury. It can even follow you outside your home, helping to protect you if your dog bites someone at the park or you accidentally injure someone while riding your bike.
Condo Insurance Quotes in Delafield, WI
If you own a condo or are preparing to purchase a condo in the near future, let Billy Brown Insurance help you get the coverage you need. Give us a call to request your free consultation and quote. We look forward to serving you soon.
