When looking for condo insurance, it’s important to understand what you will be expected to pay and what it will cover.

Your policy will list the deductible, which is the amount you have to pay out-of-pocket before your insurance company begins paying claims. You can usually choose a deductible of $500, $1,000, or $2,000. Higher deductibles will lower your premiums but ensure you have enough money saved up in an emergency.

When determining how much condo insurance you need, there are several factors to consider. First, you should assess the value of your belongings and determine how much it would cost to replace them in the event of a loss or disaster.

Another important factor is your liability coverage, which protects you against lawsuits resulting from an accident or injury at your home. Additionally, it would be best to consider whether you want to insure your personal property separately from the condo itself and how much coverage you need for things like flood damage, natural disasters, and vandalism.

It is also important to know the difference between the master policy for the entire complex and your unit policy. The master policy usually includes liability coverage and insurance for the building and common areas.

The unit policy is specific to your individual condo and covers your personal belongings and any damage to your unit. It’s important to make sure that both your master policy and your unit policy are up-to-date so that you have the best protection in case of a loss.

If you have any questions, please call the Voi Insurance Solutions LLC agency today. We are proud to serve the Glendale, CA area.