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.
Your condominium is your home and one of the most significant investments you will make in your lifetime. Obtaining the proper condo insurance policy for your Pennsylvania pad is extremely important to protect your investment.
Much like a homeowner’s insurance policy, your condo insurance policy will provide coverage for your personal belongings, which include your clothing and household goods and appliances. It will also cover the structure of your condo along with any additions and improvements you have made to your condo before a disaster occurs, such as a fire, vandalism, or natural disasters, such as a tornado, flood, or hail storm.
In Pennsylvania, you can also obtain Full Value Personal Property insurance, which will protect you against certain things that may be levied against you by the condo association in which you may belong. It will also cover the living expenses that you may incur while your condo is being repaired, renovated, or rebuilt after a disaster happens.
You will also want to have coverage for liability. This means if someone is visiting you at your condo and becomes injured somehow and it is deemed to be your fault due to negligence or some other reason, their medical bills, and your condo insurance policy will cover lost wages.
Obtaining the best condo insurance policy for your home in Pennsylvania is extremely important to protect your investment and your peace of mind. To create the best policy that will provide you and your condo with the optimum amount of coverage, you will need to enlist the assistance of an experienced and knowledgeable condo insurance agent.
The skilled condo insurance agents at Patrick McNealis Insurance and Financial Group in Emmaus, PA are ready to assist you with all of your condo insurance needs to provide the best coverage for you and your situation. Call Patrick McNealis Insurance and Financial Group for an appointment today!