Condo Insurance For Dummies 2011

Condominium insurance also known as a HO-6 Policy, has many little nuances that the common person should know about.  There is one area of Condo Insurance that I think is very vital and often times gets overlooked by newer agents trying to close a deal on price and by clients who may not have a full knowledge of this type of coverage.

Call Jason Shroot @ 714-988-3325

 

The area I want to address is called “Building Property.” Not “Personal Contents!” Let me explain the difference. Personal contents is everything that would fall to the ground if you turned your place upside down. Building property is the more permanent types of fixtures, or as some banks call it “Walls In.” let me give a few examples. Kitchen cabinets, granite countertops, tile flooring, carpet, bathroom cabinets, improvements on a staircase, etc…

Now here is where I want to caution the common person. Please evaluate the cost of all that Building Peroperty in your Condo, especially if you did upgrades or remodeling. Review your policy with your insurance company or agent and make sure you have enough “Building Property” coverage to cover it if there was a giant loss due to flooding from the upstairs or due to fire.

Call Jason Shroot @ 714-988-3325
This is an absolutely vital area of coverage that needs to be there on your policy! And we all know there are a lot of Condo’s in this Orange County area. Do not confuse this coverage with the “Master” or HOA policy your Association may carry on the structure of your property and the common areas. Those Master policies will not cover the inside of your home.

Please Contact Jason Shroot at Diversified Insurance Solutions For More Information On The Proper Way To Protect Your Condominium at 714-988-3325.