Condo Insurance Is Different Than Home Insurance in Orange
It doesn’t take much to see there is a difference between a condo and a home, likewise, condo and home insurance in Orange are two very different policies.
With a house, you “own” the whole property from the basement to the very top of the chimney. If something breaks, it’s up to you to fix it. With a condo, however, you only own part of the building. People who own a condo want to be insured against financial loss that is brought on by disasters like fire, liability, and theft. But condo insurance is typically covered by two separate insurance policies that protect you and your condo.
What does condo insurance cover?
Personal Property – If your personal things like electronics, furniture, clothes, artwork, and more get damaged in a covered peril or stolen, condo insurance can cover you.
Medical Bills – If a guest gets hurt on your property, condo insurance can help the liability associated with the medical bills, which can be rather expensive and can force you to reach deep into your pocket (and bank account).
Temporary Housing – What should happen if the damage renders your place inhospitable? A fire can leave your condo in ruins and you will need a place to sleep. Condo insurance can help pay for temporary housing while construction is underway.
Loss Assessments – The other residents of the condo usually have a condo association that sets up some sort of insurance that covers the entire structure. If something is damaged under a covered peril, your association will bill you for your share of the repair costs.
Whether you own a condo or a house, you need condo or home insurance in Orange, respectively, to protect your residence. Call Remland Insurance today for additional safety information or to update your California home insurance policy in Orange County and surrounding areas – 714.532.3341