Many people prefer condominiums, also known as condos, to single-family dwellings. Similar to apartments but subject to individual ownership, condos have many benefits of home ownership. When you’re ready to contact an insurance company to cover your condo, it pays to know how coverage works. 

How Does Condo Insurance Work?

A condo, a type of real estate that is similar to an apartment in some respects, is an individually owned residence in a multiunit building. Condo insurance provides protection from large, unexpected expenses associated with condo ownership and is similar to renters and homeowners insurance. 

What Does Condo Insurance Cover?

An insurance company can structure a condo insurance policy to meet your coverage needs. A policy usually covers the expenses of individuals injured by your fault while they’re visiting your condo, including the medical care they may need. It may also cover damage stemming from leaks in ceilings as well as utility-related problems associated with electrical systems. It may cover the replacement of property damaged by water or fire, including provisions to replace electronic devices damaged after being plugged into faulty outlets or furniture damaged because of a leaky roof.

Why You Need Condo Insurance

Condo owners have the responsibility to pay for some forms of damage and on-site accidents, just as they would if they owned a home. Without a landlord to fall back on, you need a policy to cover your liability for personal injuries sustained inside your unit, for example. If you’re new to condo ownership and haven’t been in touch with an insurance company to secure proper coverage, you should make contact with a reputable agent as soon as possible.

When you need an insurance company that is available to help you with insurance needs, choose Patton Insurance Group in Springboro, OH. From home insurance to life and auto insurance, their agents will find the coverage you need at a price you can afford. To learn more about this Better Business Bureau®–accredited agency, visit their website, or call (937) 886-9966 to discuss your insurance needs with a member of their staff.