Condos are a popular living option in California, especially for people looking for convenience and a low-maintenance lifestyle. That’s because when you live in a condo the association fees you typically pay cover the upkeep of the exterior of the structure, meaning you are responsible for only the interior of the dwelling.
These living arrangements often allow first-time homebuyers to enter the real estate market, can help senior citizens remain in independent living situations, and can provide more space for small families than most apartments.
Like a house, when you purchase a condo you will need to obtain insurance to protect you and your family’s new home.
What Condo Insurance Covers in California
In California, condominium insurance provides coverage for the dwelling’s interior and those improvements for which the condo owner is responsible to maintain in accordance with the rules of the condominium association. The policy does not typically cover the exterior of the structure since in most condo buildings the owner does not own the exterior of the unit or the land it sits on.
In addition to the interior of the condo, condo insurance also covers damage resulting from a storm or fire and for liability in the case that someone is injured or if their property is damaged while in your condo. You may need a separate policy for flooding, however, as this is not always covered under condo insurance policies.
The Cost of Condo Insurance
When you are looking for the best condo insurance policy cost will certainly be an important consideration.
Typically, the cost will be determined by several factors. These factors include the value of your condo and the location of the condo. The cost of your insurance may also be impacted by what is covered by your condo association or homeowner’s association master policy.
Let Avail Insurance Solutions LLC find the right policy for you!
At Avail Insurance Solutions LLC, our team loves customizing the perfect policy for our neighbors. If you need insurance for your new condo give our office a call or set up a time to meet with us.