Condo Insurance in California

The condo lifestyle is a great fit for families and individuals who do not want the hassles of homeownership. However, insurance is one thing you should take into consideration if you own a condo or are thinking of owning a condo.

Condo insurance is crucial to making your condo investment profitable long term. Keep reading to find out more about condo insurance with Covermax Insurance serving Bakersfield, CA.

Individual Policies

Although the HOA you will be a part of will have insurance on the property, this is not the same as an individual policy for your specific condo. The condo association insurance only covers things such as the exterior of the building and common areas that are shared by all residents. This policy will not cover what is inside your condo.

HO6 Policies

The HO6 policy in California is the type of condo insurance that will cover your personal belongings inside of your condo. This type of policy also covers property damage and liability risks inside the condo. This protection helps the condo owner in the event that there is damage or in the event that someone is hurt inside your condo.

Do Your Homework

In order to make sure that you get the best deal possible, you will need to review your condo association policy first. This will give you the information you need to decide which coverage you should purchase. You do not want to buy more insurance than you need for your condo in California, but you certainly do not want to buy less than you need either. Being underinsured could put your condo investment at risk. Wise condo owners take the time to do their homework and get the best policy for their situation.

If you would like to learn more about condo ownership and what type of insurance would be best for you and your family, please contact our friendly staff today at Covermax Insurance serving Bakersfield, CA.