A condo or townhome can be a rewarding piece of real estate to have in Orlando. Many owners enjoy that they do not have to mow the lawn or repaint the exterior every few years. Because all of these things are typically covered in the homeowner’s association dues, you do not have to be concerned about these time-intensive tasks. Same goes for homeowner’s insurance. In a condo, co-op, and townhomes, typically a master policy covers insurance for common areas like the roof, exterior walls, and patios should any physical damage happen.
But owners still need a policy for personal possessions and liability protection. This type of insurance policy is obtained through an Orlando home insurance agent and will cover:
• Personal possessions
• Living expenses if you become a victim of fire, theft, or specific disasters
• Structural improvements to the condo
Sometimes it is unclear what is covered by the condo association, so read over the association’s bylaws or have your insurance agent help you with any questions. Many condo associations only cover the blank walls, floor and ceiling, so any improvements done to the kitchen, bathroom, and even flooring deserve insurance protection. Be sure to also ask the home insurance agent what the company’s policy is on water damage. Imagine if the dishwasher backed up and ruined expensive wood flooring. Asking your insurance expert ahead of time about sewer and drain issues can save you a lot of stress should this type of water damage occur.
And speaking of water, if your property merits flood insurance, the insurance agent will help you obtain it through FEMA’s National Flood Insurance Program. Some homeowners who are not in a flood zone like to get flood insurance too for peace of mind, and this will be cheaper to get when not in a designated floodplain.
Homeowners who have certain expensive items, like jewelry, collectibles, or electronics will want to get advice from their insurance agent to see if a separate policy is best for these types of items. True stories abound where an expensive diamond ring wasn’t properly covered under the home insurance policy and should theft or damage occur, the individual was only able to get a percentage of the actual money needed to replace it.
Condo and townhome owners can also qualify for home insurance discounts. Monitored smoke and fire alarms can lower a deductible, for example. A home insurance agent will give you choices on deductibles and coverage for replacement cost of your contents. In Orlando, the Florida Insurance Group has helped individuals and families with their home insurance needs for more than 20 years. They are known for getting their clients high-quality insurance at a great value and have access to many of the best insurance companies in business today.
For more information:
1-888-525-2210
www.floridainsurance.com