Let our nearly 100 years of experience ensure you have adequate condo insurance for your Hickory property.
It might seem that insuring a condo is exactly the same as insuring a single-family dwelling, but there are key differences that make it vital to have condo insurance rather than typical homeowners insurance. Here at First Security Insurance, we are happy to sit down with you and explain the differences and help you get the coverage you need for your condo.
One of the things that makes condo insurance different is that the development is usually responsible for insurance coverage for the outside structure itself. Generally, the condo owner is responsible for the inside walls and the inside part of the exterior walls. This is where condo insurance comes in.
It is also important to understand how the burden of causal factors in. Questions such as, “My neighbor had a kitchen fire and it burned into my unit– whose insurance pays?” are typical and ones that your condo insurance policy will outline. We take the time to explain exactly what your condo insurance covers, so you can be sure you have all your bases covered.
Another point is that most condo associations will require you to have condo insurance. When you have a fully paid single family home, you have the choice to not have coverage, although that is very unwise. You won’t have that same option with a condo.
The bottom line is that there are many unique things about condo insurance and many different carriers with varying degrees of coverage. If you are unsure that you have adequate condo insurance coverage for your Hickory, North Carolina property, feel free to contact us. We can review your policy and make recommendations based on our nearly 100 years of experience. For example, while the condo association sets minimums for coverage, in order to fully cover your interests, you may want more than they require. Addressing that and other concerns is why we are here with the answers you seek.