Insurance for your condominium or co-op provides coverage for household contents and personal belongings if they are stolen or lost in a fire. Furniture, clothing, electronics and collectibles add up to a large loss when you have to replace them all at once.
Other common losses condo and co-op insurance polices cover include valuable items lost or stolen out of the home, sewer and water backup, mold and fungus, and even identity theft.
Condominium and co-op owners are also covered for damage to improvements made to the unit for which the association’s policy does not provide coverage, such as carpeting or custom floors, granite sufaces, and other upgrades. Condominium and co-op owners will also receive money for assessments arising from repair or replacement costs that exceed the association’s insurance limits . This can be used to pay for your share of property damage or injury awards for which your association’s policy does not provide enough coverage.
For more information on the best homeowners insurance for your needs, give Brewster Hill Insurance Brokerage a call.
