What is condo insurance and what does it cover?

Do you know what your condo’s insurance association’s insurance covers? Before you buy your condo policy in Bismarck, ND it’s imperative to ascertain what your master’s policy entails. Sometimes the condo association policy caters to the structure of your condo unit encompassing walls and floors and sometimes it covers only the bare walls, ceilings, and floors.

Regrettably, many condo owners in Bismarck, ND forget that they have the interior of the unit to protect as well as personal property. What happens if you are found responsible for property damage or bodily injury like a guest sustaining injuries while residing in your condo? What if third parties sue you? Don’t get stuck, we have remedies for all these unfortunate incidences. Please contact us at Kramer Agency today. Our agent will answer all queries concerning condo insurance, helping you to design a policy that meets your needs and budget.

What is condo insurance?

Condo insurance is a financial protection tool for condo owners which helps them to pay for the repairs of their condo and damages to their personal property when a covered peril strikes.

What does condo insurance cover?

Condo insurance from Kramer Agency offers the following individual condo insurance coverage:

Personal property coverage

It protects your personal belongings like clothing, furniture, and electronics if they get ravaged by a covered peril like fire or when they get stolen.

Dwelling coverage

It caters to the structure of your condominium unit and any upgrades or betterments you have made, like custom hardwood flooring and built-in appliances.

Liability coverage

What happens when a guest visiting your premises slips and falls, sustaining a serious injury? This form of coverage protects you if you are found liable for other parties’ injuries or property damage. It cushions you from medical bills and accruing lawsuit costs.

Loss of use coverage

What transpires when a covered peril strikes and renders your condo unsafe to live in? Luckily, this form of coverage pays for additional expenses like hotel bills and accommodation when you have relocated elsewhere temporarily as your condo gets repaired or rebuilt.

Are you shopping for spectacular condo insurance in Bismarck, ND? Please contact or visit us at Kramer Agency for a competitive condo insurance quote.