Condo owners need insurance just like any other homeowner, to provide protection for their valuables. At Renee Oliver Insurance Agency Inc. we know that it can be confusing what you may or may not need in that regard.  We’re happy to help you understand what you need to consider when choosing condo insurance and if you want to talk more and are in the Silver Spring, MD area, give us a call. 

Choosing Condo Insurance

Personal Items Valuation

If your possessions are ruined or damaged or in a robbery, your condo insurance may cover them.  You will need to take a good assessment of what property you have, which is done through a home inventory list. Make sure you don’t undervalue the items and list everything from furniture to electronics, the appliances in the kitchen, and everything of value. Jewelry, artwork, etc. especially need to be listed.

To make it a little easier, some great apps can help you do this.

Get Good Asset Coverage

Do you have a pet? Are there things that someone could hurt themselves on? If you are ever in a situation where someone has injured themselves on the property or through your pet, you are at risk for damages. Condo insurance may give you liability coverage. Make sure that you have your assets and your net worth added in so that you are well protected from this type of insurance claim against you.

Living Expenses

What would happen if your condo was damaged? Where would you live? Consider this when choosing your condo insurance, so you aren’t paying out of pocket for any living expenses during a time of repair. We suggest taking in how much your daily expenses are, adding in how much it would be to have shelter elsewhere (plus any additional expenses such as higher-priced meals, etc.), and using that as a baseline.

Give Us A Call

Renee Oliver Insurance Agency Inc. is here for all your insurance needs. If you’re close to the Silver Spring, MD community. we’d love to hear from you.