Purchasing a home is a huge decision and requires a rather large monetary investment. For that reason, it’s vital that you do what’s necessary to protect your property at all times. However, it’s also vital to remember that your protection plan needs to include a good insurance policy. If you’ve decided to make yourself at home in a condominium instead of a single-family home, you’ll have a few special considerations that you need to make when it comes time for you to craft your perfect insurance policy. Here’s what you’ll need to be thinking about as you set out to buy Condo Insurance Boston:
The Master Policy
Before you purchase your own Condo Insurance Boston, you need to know what’s in the condo owner or association’s master insurance policy. The terms of this policy will let you know exactly what parts of the building the condo association covers so that you don’t buy too much (or too little) coverage. If a total disaster strikes, many condo associations will only cover the ceiling, floor, and bare walls of your unit, which means you are responsible for insuring appliances, fixtures, cabinets, electrical wiring, and even plumbing. In other cases, the association’s Condo Insurance Boston will insure everything that was included in the original unit (in which case you are responsible for any alterations). Check the master policy first, and then get coverage for what isn’t insured. Visit here for more details.
Sharing The Cost
If something disastrous (like a fire) occurs in a common area of the building, it’s likely that the deductible for fixing the damage will have to be shared among all of the unit owners. This is no big deal if the condo association’s deductible is small, but it can be very costly if they carry a large deductible. Find out what that deductible is, and then be sure to get loss assessment coverage for your portion of that deductible, so you don’t have to pay out of pocket should this type of situation arise.
Buying Condo Insurance Boston does require some special considerations, but it doesn’t have to be a complicated process when you get help from a knowledgeable insurance agent. Allow an agent at Sawyer Insurance Agency Inc. to help you create your perfect condo insurance policy. Go ahead and visit the website to find out what you need to know to help you get a great policy at a price that works for you.
