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As a condo owner near Silver Spring, MD, understanding liability coverage is vital to protecting yourself and the investment you’ve made. Because liability insurance plays a pivotal role in safeguarding your investments, homes, and property, it’s essential to know what type of coverage you’ll need to protect what you own. At Renee Oliver Insurance Agency Inc., we specialize in assisting clients in Silver Spring, MD, who are seeking liability insurance coverage for any number of reasons.
Why Liability Insurance Matters for Condo Owners Near Silver Spring, MD
Liability insurance protects against claims that may arise due to property damage, personal injury, or bodily injury (on the premises of your condo). Two common types of liability insurance apply to condo owners: personal liability coverage and medical payment coverage.
- Personal Liability Coverage: Personal liability coverage protects you if someone is hurt or injured while in your condo unit, such as in a trip-and-fall incident.
- Medical Payments Coverage: Medical payments coverage helps cover any medical expenses incurred by a guest who is injured on your property.
Limits of Coverage
Always review the limits of coverage when selecting policies. For example, in Silver Spring, MD, limits typically range from $100,000 to $500,000 or more, depending on your chosen policy and assets. Working with an insurance agent can help you find a policy with an appropriate level of coverage for your property and condo needs in Silver Spring.
From obtaining liability insurance for your condo to protecting any other property you own, it’s important to do so with the right policy and plan in place. At Renee Oliver Insurance Agency Inc., we can help review comprehensive insurance policies for condo owners interested in implementing additional protection for their investments. Contact Renee Oliver Insurance Agency today to learn more about condo protection with liability insurance.