Owning a condo in Miami, FL is excellent, but you need to think about condo insurance to protect you and your valuables. Unfortunately, many people forget about condo insurance since they assume they are covered by the condo owners association (COA) master policy. While it’s true that the COA policy protects you, it only extends to common areas and the exterior of your condo unit. Therefore, if theft or fire were to strike, your personal belongings aren’t covered by COA master policy.
With this in mind, you need condo insurance from Prestige Insurance Group to accrue the below benefits.
Protect your interior’s dwelling
Since the COA policy doesn’t cover the interior of your dwelling, it’s for this reason you need condo insurance to protect your dwelling’s floor, roof, walls, and fixtures if damage were to occur.
Loss of use coverage
If a covered peril were to damage your condo unit, you would have to seek a temporal shelter as your dwelling undergoes repairs. In the process, you would incur expenses like hotel food and accommodation that you hadn’t planned for. Thankfully, condo insurance covers expenses beyond your everyday living expenses until your condo becomes livable again.
Condo insurance can save you tens of dollars in medical costs and lawsuits for injuries happening to guests within your premises. Besides, liability coverage protects you against property damage that you and your family members inflict on other people.
Protects your assets
Your condo interior wouldn’t look great were it not for assets like furniture, electronics, and other belongings. Unfortunately, perils like fire, theft, and water damage can cause loss or damage to your assets. Without condo insurance, you will have to repair or replace your assets from your pocket.
Condo insurance in Miami, FL
If you would like more information regarding condo insurance, please contact Prestige Insurance Group in Miami, FL. Our team will help you make an informed decision when buying condo insurance coverage.