If you have a condo in Arizona, it must be insured. Even if the lending bank didn't require this type of coverage, it's a bad idea to be without it. If the worst should happen and there is a catastrophe, you will not be able to keep your lifestyle without this kind of insurance. If you have a condo and need to get it insured, call us at Precision Insurance Team in Mesa, AZ to talk to an agent about your condo insurance needs.
Many people believe that condo insurance is just like homeowners' insurance. However, they are very different kinds of policies. Condo insurance doesn't cover the whole building that you are in. It also doesn't cover the portion of the building that is yours. It covers the inside of your home, but not the outside. You are not required to have insurance outside or in any common areas, even if they are near your condo. The condo association is responsible for insuring those areas.
When you have condo insurance, it offers you more than coverage for your part of the dwelling. It also offers you liability coverage for the inside of your home. If a third party should have an accident or get an illness inside your condo, your insurance coverage will offer coverage for those instances. Condo insurance also offers you coverage for when a calamity makes your home unlivable. This type of coverage pays for your living expenses in this instance to maintain your lifestyle.
If your Arizona condo needs to be insured, call us at Precision Insurance Team in Mesa, AZ. Make an appointment to talk to an insurance agent about just the type of coverage you need for your condo.