Owning a condo offers a unique blend of homeownership and community living. While you may not own the building itself, you’re still responsible for the interior of your unit and may share responsibility for common areas. This is where condo insurance comes in. It’s somewhat like homeowners insurance but still quite different.
So, at Smart Apple, we ensure you get the right insurance, whether for a condo or a home. Our well-trained team gathers information from you and provides the best insurance option in the minimum time.
Condominium Insurance Questionnaire
Typically, condo or HO6 Insurance covers water damages caused to other units and then seeks reimbursement from your neighbor’s insurance company. However, in some cases, the damages aren’t covered by condo insurers. For instance, if damage is caused by your negligence, you will be solely responsible for the damage caused to your unit as well as your neighbors.
You mainly need HO6 policy. Its a type of insurance that covers your condo interior, belongings, living expense and liability protection. Most of the condo association require you to have an insurance. Further condo insurance is a good idea for peace of mind.
Condominium or HO6 insurance rates can range from $500 to $3,000 per year depending on your specific circumstances. For instance your condo location, deductibles, coverage limits, condo insurance master policy, credit score, claim history and insurance provider all contribute to cost of insurance.