Condo Insurance
Many residents in Virginia have taken advantage of the condo lifestyle, especially in the larger cities where they can be central to their employers and downtown life. A part of the condo lifestyle is the minimal responsibility that is shifted from a single homeowner to multiple condo owners under the place of an HOA and master insurance policy. Unfortunately, these policies do not include individual condos, which is why Thacker Insurance Services is offering condo insurance.
Community Insurance Is Not Condo Insurance
When your HOA comes together for a master insurance policy, this is only covering external structures that are shared between condo owners. It also covers community areas such as hallways, pools, recreation centers, and parking lots. However, they do not cover any personal damages or repairs for personal property.
Personal Property Coverage
The property that is within your condo can be destroyed due to an accident or in the event of a theft. Should your condo suffer damage to any of these events, only the shared areas will be covered. Your personal property will be your responsibility for replacing unless you have condo insurance. This property includes appliances, clothing, furniture, electronics, and anything else residing within your condo permanently.
Liability Protection
Having guests over is common for condo owners. They sometimes allow their guests to utilize the community areas which is covered with the master HOA insurance policy for liability claims. However, if they are harmed within your personal condo, your personal condo insurance policy will be responsible for covering any costs and damages you may be responsible for according to the court system. If you own a pet or frequently entertain guests, this liability coverage is a must for your personal protection.
Give Us A Call Today
At Thacker Insurance Services, we want our clients to have access to the insurance policies that fit their lifestyles. If you would like more information on condo insurance, give us a call today.
While our offices are located in Manassas, VA and Washington DC, we serve clients all across DC, Virginia, Maryland, and other states.
