Owning a condo is a good option for people in the Tomball, TX area as it offers many of the benefits that come with home ownership without all the same maintenance obligations. If you get a condo here, you need to have the right insurance, which almost always means getting condo coverage. There are various differences between condo and home insurance that you should be aware of.
Limited Property Coverage
One important consideration for condo insurance versus home insurance is that condo coverage has limited property coverage. A condo policy is designed to cover items within your unit, including appliances, flooring, plumbing, electrical, and interior walls, as well as personal items. A master condo policy held by your association will cover exterior walls, common areas, and other shared fixtures. Many condo associations will also want to ensure each unit owner has a proper condo insurance plan.
Liability Protection
A condo plan will also offer liability coverage for accidents that only occur within your dwelling. A home insurance plan can cover any accident that occurs on your land. However, accidents that occur within shared condo building spaces may not be protected. Accordingly, it is important that your condo association has an appropriate master policy in place as well to cover such claims.
If you are a condo owner in the Tomball, TX area, you will want to know that you choose a proper condo insurance plan. When you are ready to start your search for your next plan, it would be ideal to call our Hastings Insurance Agency LLC team. Our professionals at Hastings Insurance Agency LLC know the value of this coverage and will provide any help you need to select a new policy.