Perhaps you are wondering why you would want to insure your condo while it is already covered under the condominium association’s master insurance. The answer to that is simple. While the association insurance covers the exterior of the building including walls, floors and roof among others, it does not cover the interiors of your condo, including plumbing, wiring, cabinets and the rest of your personal property, neither does it cover you for personal liability. Below is an overview of the importance of condo insurance in Naples FL and its main points of coverage.
Personal Liability coverage
This coverage financially protects the condo owner from the threat of being sued in the instance of someone getting hurt within their property. For instance, if a friend comes visiting and slips on your wet floor sustaining injuries, this cover will protect you from incurring loses in case the friend decides to sue you. Further, this coverage will protect you for any damage to the property caused by you, your family or visitors. Without a condo insurance policy to cushion you from such losses, you would have to cater for all these expenses from your pocket.
Personal property coverage
This protects the personal items owned by the condo owner. These include clothes, machinery, jewelry, kitchen appliances and furniture to mention a few. If any of your personal items are destroyed by the insured perils including fire and water, or you lose your personal belongings through vandalism, burglary or theft, this insurance coverage will assist you in replacing all your stuff.
Dwelling coverage
This covers any improvements that the condo owner may have made to the building that increased its value. It is imperative that you get this coverage regardless of your condo association having an all inclusive master policy.
While buying condo insurance may seem like a waste of money, it may turn out to be among the best investments you have ever made. If you are contemplating purchasing condo insurance in Naples FL, contact Ackerman Insurance Services, providers of quality and affordable insurance packages including auto insurance, business insurance, condo insurance, homeowners insurance and life insurance among others in Bonita Springs and Naples FL. For more information, visit their website.
