Clermont Condominium coverage
Need Condo coverage?
Well, you have come to the right place. Southern insurance group is your independent agency that has the ability to shop all the homeowner insurance carriers for your best pricing for a condo insurance quote.
What is covered under a condo policy?
A condo policy is a package policy just like a homeowner policy that provides dwelling, contents, loss of use, liability, medical payments and loss assessment coverage all built into one policy. Below is a detailed summary of how these coverages apply.
How is Condo Insurance Different than Traditional Homeowner Insurance?
Condo insurance is different than traditional homeowner insurance in that you do not insure the outside structure. Your condo association will provide coverage for the outside walls and the roof. What you are responsible for is from the walls inside. This includes drywall, flooring, cabinets, light fixtures, permanently installed appliances and anything that is physically attached to the inside structure.
Because you are not responsible for the outside structure, your coverage for the dwelling inside requires much less coverage and therefore your premium is typically much less than a standard homeowner insurance policy.
The standard coverages under a condo insurance policy will be as follows:
Your condo insurance in Clermont, FL provides coverage for loss assessment that will pay to you if you are assessed a portion of the damage sustained in the condo community As an example lets say there are 50 condo units in the community and a lightning strike knocks out the community gate and pass code keypad. If the total damage created from the claim is 10,000, the association would take the 10,000 and divide it by 50 unit owners and assess each unit owner $200.
Because there are various policies in place, you need to make sure that you don't overpay for unneeded insurance--already covered by the master insurance plan--and that you have extra liability insurance where the master insurance stops.
Worried about costs? Don't be--Clermont condo insurance can be very affordable.
Clermont Florida Condo insurance is like a suit that needs to be individually tailored: if it's too big then you overpay for what you don't need; if it's too small then you may expose yourself to lawsuits.
Condo insurance in Clermont is available at reasonable rates to anyone who owns property in a development with joint property ownership. It is distinct from homeowner insurance because it works in conjunction with your association's insurance policy.
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