What is covered with condo insurance?

If you are in the Centralia, IL area, one of the best long term investments that you could make would be the purchase of your own home. For those that want to own real estate, buying a condo could be a good option as it will often come with fewer maintenance obligations. If you do own a condo, getting condo insurance could be a good option as it will provide you with a lot of protections.

Provides Liability Protection

One advantage of having condo insurance is that it will provide you with liability protection. You could be found liable if someone is injured in your home or if a leak in your home causes damage to another unit in your condo building. When you have liability insurance included in your condo insurance policy, you will receive coverage for these risks. Most condo association boards also require that you carry this type of insurance at all times as it will provide protection to all other unit owners as well.

Protects Your Assets

A condo insurance policy will also provide you with protection for all of your assets. When you have condo insurance in place, it will provide you with protection in the event that your home is damaged by a fire, storm, or any other type of loss creating event. This insurance policy can also provide you with protection for your personal belongings that you own and are under your roof.

If you own a condo in Centralia, IL, the first company that you should call to discuss your condo insurance needs is the Alcorn Insurance Agency. When you speak with the Alcorn Insurance Agency, you will be able to learn more about how condo insurance can help you and why it is a necessity.