Condo Insurance Add-Ons

Condo insurance is a type of residential property insurance. The folks at Friant Insurance Agency serving Temecula, CA would like you to know about the condo insurance and add-ons available to you.

 When considering condo insurance, know that your Homeowners Association (HOA) is required to maintain some insurance for the outside of the building and windows. It is worth knowing the details of those policies. If you know the details, you can purchase any condo insurance add-ons that you may need to provide financial protection against loss, damage, or liability at your residence, whether you own the condo or rent it.

When it comes to purchasing add-ons, you should consider it the same way you would buy any insurance for your residential property. What do you need financial cover for, what is the value of what you are trying to insure, and do you have liability insurance if someone is hurt on your property?

Importantly, standard condo insurance policies do not cover earthquakes and all the damage that may be associated with an earthquake. Earthquake policies are further broken down into optional coverage sections that may include:

• Building property – for damage inside your home such as fixtures and interior walls
• Personal property – for damage to your belongings, like TVs and appliances
• Loss of use – very nice to have; this is a financial cover for the expenses if you have to live elsewhere due to damage to your condo due to an earthquake.
• Loss assessment – assists with payment for damage assessments to exterior portions of the building.
• Emergency repairs – cover for emergency repairs to prevent further damage.

Earthquakes are a reality in CA. If you need help considering which condo insurance add-ons to purchase, then speak to Friant Insurance Agency serving Temecula, CA, today!