Marino Agency Inc. knows that condo insurance isn’t an option. It’s a necessity.

Many people incorrectly assume they’re already protected by a landlord or building association’s policy. But, in reality, this coverage is extremely limited.

Fortunately, Marino Agency Inc. can make sure you’re prepared. Located in Mt. Ephraim, NJ, the agency identifies four items that should be included in every condo insurance policy.

Building protections

An owner’s insurance plan includes the structure of the building itself. This rarely extends to anything on the inside. Luckily, condo insurance fills that gap by insuring the interior. In the event of damage, destruction, or vandalism, your policy insures flooring, walls, cabinetry, and any other permanent fixtures.

Possession protection

Condo insurance applies to your belongings too. Furniture, appliances, electronics, jewelry, and other valuables are shielded against loss. Although each policy will list covered events, damage from natural disasters, like water or fire, is typically included. Theft and vandalism are also likely covered.

Personal liability

Liability is a key part of any insurance policy. This coverage protects you, your family, and guests if an accident does occur inside your residence. It reimburses for any property, medical, or other injury-related expenses. But, in the event of a lawsuit, liability chips in for legal costs as well.

Loss of use coverage

Even preparation can’t prevent accidents from happening. If a serious disaster occurs, you may be forced to relocate if your condo becomes uninhabitable. Loss of use coverage pays for additional living expenses associated with this temporary move, including hotels, meals, and even increased travel.

Find an agent serving Mt. Ephraim, NJ

If you rent or own a condo, only a dedicated condo insurance policy can ensure you’re protected. Contact Marino Agency Inc. to set up an appointment today.