After getting a condominium unit, the next thing that you will have to worry about is getting condo insurance from a reputable insurance agency in Rochester, Minnesota. However, for you to get the best option available, you first have to know what this policy offers. Thorough research will allow you to make the most out of this insurance coverage.
- Condo Association
Every condo owner is a part of the condo association. The condo association will be the one in charge of the maintenance and protection of common areas such as the hallways, roofs, walkways, and the building itself. With the condo association taking charge of the common areas within the premises of the condominium property, the condo owner’s liabilities lessen considerably.
- Condo Owner
While the common areas are insured by the association, the condo owner is in charge of the protection of the things that are inside their unit. To protect one’s possessions, it is important to get suitable insurance in Minnesota. This condo insurance, otherwise known as an HO-6 policy, will cover personal possesions such as walls, cabinets, countertops, carpets, and other interior parts of the condo.
The condo insurance will also provide liability protection against lightning and explosion, wind and hail, fire and smoke, falling objects, theft and vandalism, and damage from vehicles. However, you have to make sure that these coverages are listed in your chosen policy.