Do I need to carry condo insurance Ohio or Tennessee?

Owning a condo is a great opportunity to either enter the housing market for the first time or to change from a single or multifamily house to a home with common shared areas. Answering the question of whether you need to carry condo insurance in Nashville, TN or Cincinnati, OH is not as simple as it sounds. Several factors will affect the answer. Talking to an insurance agent who is experienced with condo insurance is important and at Greater Cincinnati Insurance Services we have the expertise you are looking for. 

You will need to carry condo insurance if you have a mortgage, the lender will require it. But beyond that, it is in your best interest to cover the areas of your condo that are your responsibility. You should be familiar with the terms of your condo association insurance policy so that you know where their coverage ends and yours begins. Some policies are walls in and others cover things like kitchen cabinets and bathroom fixtures. At the minimum, you will be responsible for all of your personal possessions, furniture, electronics, and clothing. 

When it comes to liability, the association policy covers common areas such as walkways, parking lots, pools, and elevators. However, if someone is injured in your condo, the responsibility falls to you. If you have a pet, it will also cover that pet when you are walking them or in a dog park. Without coverage, all expenses would fall to you personally and that could be very expensive. 

Getting your condo insurance right is important for your peace of mind. At Greater Cincinnati Insurance Services in Cincinnati, OH, we are here to provide the information that you need. Why not stop by our office or give us a call for a no-obligation quote, you will be glad that you did. 

 

How much condo insurance do you need?

Your condo in Cincinnati, OH is the ultimate spot for you to unwind from a hard day at work. But does a good indemnity policy cover your humble abode? The agents at Greater Cincinnati Insurance Services can help you find a condo insurance plan that helps to ease your worries. 

What is condo insurance?

Condo insurance is similar to home insurance. As with a traditional home insurance plan, condo insurance financially secures the structure of your residence as well as the personal belongings inside. The depth of security you receive from your plan depends on how much you are willing to pay for condo insurance in Cincinnati, OH. 

What does the average condo insurance plan cover?

The average condo indemnity plan pays for personal liability in the instance of a guest suffering an injury at your home caused by your negligence. An example of such is a shelf that you installed falling on a house guest. Personal liability insurance may help pay the injured party’s medical bills connected with the injury. 

A standard condo insurance plan may also include personal property coverage. This option pays for your belongings, such as electronics and appliances, that are either damaged or stolen in an incident. Personal property coverage does not typically pay for damages caused by natural disasters. You will need to speak with an agent at Greater Cincinnati Insurance Services about insurance coverage for natural disasters. 

Call today for a quote!

Your condo is your center. Make sure that it is adequately protected. Call Greater Cincinnati Insurance Services today to get started with a quote for condo insurance so that you can get back to enjoying your sweet home in Cincinnati, OH.

Myths about Condo Insurance

Once you are ready to buy a condo, don’t forget about condo insurance in Cincinnati, OH. There are certain myths that you should believe when it comes to condo insurance. Follow along and learn more about the myths around condo insurance.

Myth 1: You don’t need to buy your own coverage since your association has it.

The condo association’s insurance policy isn’t designed to protect you. It will only cover damage to the common areas and the building, so you will need a separate policy to protect yourself.

Myth 2: Condo insurance only protects your belongings.

While protecting your belongings is an integral part of condo insurance, it’s not the only thing it does. Condo insurance will also cover liability claims and additional living expenses. Condo insurance may also include any improvements you make to the interior of the unit. It may also provide extra protection that you will need if the condo association doesn’t have adequate coverage to repair any damage in your unit.

Myth 3: Condo insurance will cover water damage.

Not every type of water damage is going to be covered under a policy. Coverage caused by overland water and sewer backups isn’t usually included in a condo insurance policy, but it may be available as an added coverage option. An agent at Greater Cincinnati Insurance Services can help you with water damage coverage.

Myth 4: Condo insurance will protect everything in the unit.

Not all your belongings will be covered if the total value is over the limit. Jewelry, watches, gems, or furs may add up to a higher amount than the ceiling, and you will need to add some extra coverage for these items.

Myth 5: Your condo will be rebuilt exactly as it was.

If you have made changes to your condo, such as renovating the kitchen or adding in some hardwood flooring, you will need to tell your insurance agent to make sure you have the right coverage for these added items.

Contact Greater Cincinnati Insurance Services in Cincinnati, OH, serving Ohio, Kentucky, and Tennessee, to acquire a quote on condo insurance.