The agents at the Marino Agency Inc. serving the Mt. Ephraim, NJ area want you to know that even though you are not required to have condo insurance under New Jersey state law, you should have a policy in place. This fact remains true even if your condo association has a property insurance policy in place.
Remember that your condo is more than simply a roof over your head; it is your home, where your heart is. You need to ensure that you have the proper amount of insurance to cover the interior portion of your condo and personal belongings if they are damaged or stolen.
What Does Condo Insurance Cover?
The type of condo insurance that your condo association may have in place will cover mostly the exterior portion of your condominium as well as any common areas throughout the property. These can include recreation rooms, swimming pool areas, and patio areas. It would be best if you still had your condo insurance policy to protect you and your home.
Personal Liability Coverage
Condo insurance includes personal liability coverage, which will come in handy if someone becomes injured while visiting you at your condominium and then takes legal action against you. It can help protect you and your income from lawsuits and hospital bills that can add up quite quickly.
Your condo insurance policy can help replace any lost items inside your condo if a fire or other tragic event occurs. These tragic events can also include natural disasters, acts of vandalism, and even a burglary at your condo. This part of your insurance policy will help you replace any damaged, destroyed, or stolen items, such as your appliances, furniture, and clothing.
Remember that you may need a condo insurance policy if you borrow money from a bank or mortgage lender to purchase your home.
Contact Marino Agency Inc.
The agents at the Marino Agency Inc. serving the Mt. Ephraim, NJ area are ready to assist you with all of your insurance needs and can create a condo insurance policy for you and your home. Call today to get your policy started!