When shopping for condo insurance, you should pay close attention to the coverages offered by the insurance policy. These include the personal property coverage, liability protection, and fixtures and fittings coverage. Living expenses coverage is also vital. This coverage will help you pay for medical expenses and legal fees should an unfortunate incident occur. Whether you’re a renter or own a condominium, you’ll want to have the right coverage in case of an accident.
As a condo owner, you’re responsible for protecting your personal property, including your electronics and furniture. Some personal property coverage pays for the replacement or actual cash value of your belongings, both inside and outside of your unit. The policy can also provide loss of use coverage, which reimburses you for living expenses if you are forced to leave your home due to damage or theft.