If the answer is yes, you will need a condo insurance policy to protect the interior of the unit and your personal property inside. Professionals at the Kinowski Agency Inc. in Amsterdam, NY can explain the ins and outs of condo protection and why it is so important.

Condo Insurance: What You Need To Know

While most states do not require condo insurance, it is like homeowners’ insurance in that mortgage lenders want to ensure their financial interest is protected for the duration of the loan in the event of a mishap. Homeowners Associations (HOAs) often require a level of condo insurance also.

Condo insurance, or an H06 policy, is designed specifically for condominium units and typically covers items inside the unit. Condo association fees may cover some insurance needs, but an H06 policy is intended to fill the gaps.

While condo insurance covers personal property within the condo, certain high-value items may not be covered. You may want to consider a separate rider for high-ticket items such as furs, artwork, or jewelry. The insurance professionals at the Kinowski Agency can advise you.

In the event a guest or visitor is injured or bitten by your dog while visiting your condo, you may be faced with a liability claim. Condo insurance provides coverage for that claim.

What if your condo becomes uninhabitable for a duration of time? Broken pipes or flooding due to bad weather can make it necessary for you to vacate your property while repairs are being made.

Contact Us Today

Condominium associations will have their own coverage for the exterior of the building and shared property. But your personal property is not covered. Don’t leave yourself open to financial disaster. Let the Kinowski Agency professionals in Amsterdam, NY answer all your questions.