Condo owners in Pinellas County should be well-informed about condo insurance. If you own a condo, you can rely on Zenith Insurance Group to insure it and protect yourself financially.
The following are three things that might surprise you about condo insurance:
You might be required to purchase condo insurance.
A lot of condo associations require residents to purchase condo insurance. Condo owners who borrow money to purchase their units are also required to purchase condo insurance by their lender.
Condo insurance can cover additional living expenses.
Some condo owners don’t realize that their condo insurance policy comes along with additional living expenses coverage. This type of coverage pays for a hotel room or another type of temporary lodging when the policyholder’s unit becomes damaged to the point of being unsafe to live in.
Your condo insurance needs depend on the master policy of your condo association.
Condo insurance complements the master policy of the condo association. That’s why it’s important to know what type of master policy your condo unit has when you buy your own individual condo insurance policy.
Master policies at condo facilities can be bare walls, single entity, or modified single entity/all-in policies. If your master policy is a bare walls coverage policy, you need to purchase coverage for all your interior finishes.
On the other hand, you only need to purchase personal property condo insurance if your master policy is a modified single entity/all-in coverage policy that covers everything else for you.
We Are Here To Help
Protect your condo with a condo insurance policy from Zenith Insurance Group. Get in touch with us online for a quote on a policy for your condo in Pinellas County.
