Condo Property Insurance

Buyers who are interested in purchasing a Condo always ask what’s required for Condo Insurance and many are initially unaware that the monthly Maintenance Fee for Condos INCLUDES payment for exterior Property Insurance and Insurance for the common/shared areas of the Building.  When you’re purchasing a Condo, the additional Insurance that’s required beyond exterior Property Insurance is coverage for the interior of your Condo and your personal Contents.

The price of Interior & Contents Insurance varies, depending on a number factors, which include, but aren’t limited to, the Building where the Unit is located, the size of the Unit, the Deductible, the Building’s location, the amount of personal valuables that will Insured, and the Building’s condition (related to its’ structural qualities and Storm protection–Shutters, Impact Windows, etc.).  You must  obtain Quotes  from Insurance Agents in the process of securing an Insurance Policy for your Condo prior to Closing and the process will include obtaining a Windstorm Mitigation Report for the Condo.

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