Condo Insurance - What Does it Include?

As you're shopping for condo insurance, New York insurance carriers will explain their own terms and conditions regarding their coverage options, but below are three important questions you should ask your agent - regardless.

1. What Does My Policy's Liability Coverage Include?

Liability coverage is extremely important because it protects you during serious situations in which someone becomes injured on your property.
Given how expensive medical bills are and how costly it can be to supplement someone's lost income, you can understand why it's important to ask about the specific details of the liability coverage in your policy of condo insurance. New York insurance carriers can fully explain their policies' details to you so you can determine if you're getting enough liability coverage or if you want to purchase more.

2. Is There a Limit for Covering My Valuables?

Most insurance companies place limits on covering your valuables. Take care to find out exactly what your limit is each policy of condo insurance. New York condo insurance carriers can then help you purchase more coverage if the basic limit isn't enough.

3. What Does My Loss of Use Coverage Entail?

For most policies, "loss of use" coverage can help you maintain your standard of living should your condo become damaged or destroyed due to a catastrophe such as fire.

Because you probably don't want to go from living in a luxury four-bedroom, two-bathroom condo in an opulent complex to a modest one-bedroom, one-bathroom condo in an economy-style complex, it pays to find out the details about the loss of use coverage with your condo insurance. New York carriers, again, will be able to explain the details for each of their policies.