Living in a condo in Indiana has its advantages – talk of hassle-free parking, cooperative living, common areas’ maintenance, and so forth. But with all the goodies that come with condos, owners have to contend with condo insurance. At Wise Insurance Agency, situated in Ft. Wayne, IN, we always get these condo owners’ questions: do I need condo insurance? Isn’t my condo already insured with the condo association insurance?

Are you curious to find out? Please hang on.

Why you need condo insurance

While your condo is covered with the condo association insurance, you still need to purchase a condo owner’s policy. Condo association’s master policy covers your premises’ physical structure and common areas, but not the contents in your condo. As such, you need to obtain condo insurance (HO-6) because of your unique needs.

What does condo insurance cover?

When you purchase condominium insurance from us, it will cover you in the following areas:

Personal property protection

Because condos are close to each other, there is always the risk of fire that can damage your personal stuff. Additionally, theft and vandalism risks are never far from us. While you may devise security measures to thwart intruders, you may not keep them away entirely. 

Fortunately, when your personal belongings are damaged or stolen, your condo insurance can save the day by compensating for the loss. And even when damage is from other risks like water seepage, hails, lightning, and so forth, your HO-6 should bail you out.

Protection from liability claims

Since accidents happen, someone might get injured in the common areas. Here, the condo’s master policy should pay for the liability claims. However, if a guest slips or falls on your premises, your condo insurance covers the guest’s medical costs. And if they go ahead and sue you for negligence, your condo insurance pays for the legal expenses.

Need condo insurance? At Wise Insurance Agency, located in Ft. Wayne, IN, we have the experience and expertise to find the right condo insurance appropriate for you. Contact us today for all your condo insurance solutions.