Condo Insurance

Condo Insurance

Condo Insurance In Ohio

When a fire, flood, or break-in occurs, many condo owners are surprised when they learn how vulnerable they and their personal belongings are. However, with Ohio condo insurance, you can protect the condo and your personal belongings.

Most people are not aware that condo insurance is quite different from home insurance. Unlike a home, the condo has a building condo association that is responsible for maintaining all common areas and amenities.

According to the Ohio Condominium Law, this association is also required to have an insurance policy. However, this policy only has to cover the common area building and not individual condos. In some situations, your condo complex owner may invest in insurance that covers more, but this varies depending on the individual complex.

For those that only cover the main building, your personal investment is vulnerable to different risks. This is why many condo owners are encouraged to purchase their own insurance plans.

If you are still doubting whether you need condo insurance, read on to learn some of the ways that having Ohio condo insurance can protect your financial investment.

Individual condo unit improvements

After the purchase of the condo, the liability of the interior of the condo unit falls on the condo owner. This means that in the unfortunate occurrence that there is a fire in the unit, reimbursement for the loss is based on the unit’s original condition. If you do not have Ohio condo insurance, it means that improvements on your condo such as new cabinets and wooden floors are not covered.

Some Kind of Building Damage

Even though the condo association has the responsibility of maintaining the building, there are some items that are not covered in their insurance policy. A good example is when the residents decide to install a pool table in the party room, which gets damaged. Since the original investment was not made by the condo association, the cost of repair does not fall on the condo corporation but rather on the residents of the condo.

Accidental damage

If you accidentally break a window or a table in your condo, condo insurance will protect your investment against such accidental damage. Other than the accidental damage, your policy will also cover injuries to guests that occurred in your condo.

Personal belongings

Condo insurance does not just insure your belongings but also those of your neighbors just in case a fire starts in your condo and spreads to their unit! Personal property coverage also typically covers loss or damage of belongings in the instance of theft, water damage from circumstances like a burst pipe, or windstorm damage.

Protect Your Condo With Insura

At the end of the day, you want peace of mind knowing that your investment is covered. That is why you should consider getting Ohio condo insurance from Insura Insurance Agency.

Since we’re not limited to just one insurance carrier, we’re able to find an Ohio condo insurance plan that matches your needs. You’ll be able to choose from multiple options that offer varying levels. Talk to one of our local agents today or stop by our office in Reynoldsburg, Ohio, to see how affordable condo insurance can be!