Condo Insurance in California
Condos in California
If you have a condo, you may already know just how important it is to insure it. If you have a mortgage on it, you likely have to keep condo insurance as part of the agreement. Even if it's owned outright, however, getting condo insurance is one of the most important things you can do to protect your financial future. If you need condo coverage or you aren't sure you have enough coverage, call us at the Wai Cheng Insurance Agency in Newark, CA.
Your Condo Coverage
Condo insurance can be complicated, as the part that you own isn't the entire building. There are parts of your condo that you own, and there are parts that are owned and maintained by the condo board. That's why you need very specific coverage under a condo policy. Your contract states which parts you are responsible for and an insurance agent can look through this paperwork and help you to get all of your responsibilities covered.
Certain areas of California condo communities are owned by the board and are also insured by them. This usually includes the community's common areas and the outside portions of the homes. The coverage you get typically covers the inside portion of your residence. It may also cover a certain length of piping such as plumbing and gas lines. Your coverage has to extend to everything you are responsible for. And if you make any improvements to your condo that are on the outside of the building, you also have to maintain that and insure it.
Talk to an Agent
To find out more about what condo insurance policies cover and to get a policy of your own, contact us to make an appointment with an agent. It's so important to have the coverage you need in place before you need it. Call us at the Wai Cheng Insurance Agency in Newark, CA to find out more.
We serve clients all across California.