Condo living can provide an easy lifestyle that many folks enjoy. It is important that condo owners understand the specifics of insurance and what is covered by their Condo Board, and what needs to be handled by their own personal policy. The helpful team at Patrick McNealis Insurance and Financial Group serving Emmaus, PA, and the surrounding area has got you covered.
Why you need a personal condo policy
While it is true that a condo board will often carry a substantial amount of insurance coverage, it is also required that unit owners have their own policies. A board’s policy will cover things like common areas and structural damage. However, if damage occurs within your unit, it will be your own policy that covers the liability. Condo insurance is important as any damage that occurs within a unit is the responsibility of the owner.
While it may not seem fair, there are instances where an owner will be liable for damage in their unit even if they had no control over the event. For example, if your upstairs neighbor has a plumbing issue, you will likely be responsible for any water or other damage that occurs within your unit. Condo insurance helps to protect you from loss if a covered event occurs. Don’t be mistaken in thinking that condo owners do not need comprehensive coverage.
Find out more about condo insurance now!
If you are a condo owner in the greater Emmaus, PA area, the team at Patrick McNealis Insurance and Financial Group is here to answer all of your questions regarding insurance. We are here to help, so feel free to call or stop by our office to learn more about the condo insurance policies available in our area.