While purchasing a new condominium can be exciting, it’s also important to realize that you need to take measures to protect the huge investment you’ve just made. You may be eager to invest in the latest security alarms and fire prevention systems, but don’t forget about buying an adequate insurance policy that will cover you financially should you ever find yourself facing disaster. For those who want to get a head start on the perfect condo insurance policy, read on to discover a few tips that will help you choose the right coverage for your home.
Look At The Master Policy
Whether you realize it or not, your condominium association may already have its own master policy. If this is indeed the case, you need to find out what this policy will cover. In some cases, this master policy only insures the common areas of the building and the bare walls of each unit (which include the walls, floors, and ceiling only). In other cases, the original appliances, fixtures, plumbing, and electric wiring may also be covered. Knowing what is covered under the master policy helps you understand exactly how much coverage you may need to have in your individual Condo Insurance Brighton.
Consider Additional Coverage
While your particular condominium building’s policy may be extensive, it is unlikely that their master policy will meet all of your needs. Once you’ve purchased your condo, you may want to think about adding the following coverages to your Condo Insurance Brighton:
* Natural Disasters: Is the area in which you live prone to certain natural disasters like floods? Most standard policies don’t insure for these types of things, so you’ll need to consider additional coverage.
* Water Backups: This protects you if your property is damaged because of sewer backup problems.
* Unit Assessments: If a common area is damaged and you have to share in the repair costs, this coverage will help take care of that.
Having good Condo Insurance Brighton helps you maintain your peace of mind and assures you that your home and belongings are covered if something bad happens. If you’re ready to speak with a professional about protecting your investment, it’s time to get in touch with the team at Sawyer Insurance Agency Inc. They’ll help you conduct a thorough assessment of your needs and select a great policy that covers them all so that you can finally rest easy. Click here for more information.