Will I need to buy additional insurance for my own unit?
2006-11-02 06:51:03 · 7 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
You have to check the insurance of the condo company.
Usually the condo associations insurance only covers the exterior and roofing of the house. You are almost never covered for the pocessions in your house. Condo insurance for just your personal items is very inexpensive (compared to home owner insurance) I would recommend you get it.
2006-11-02 06:53:12 · answer #1 · answered by Strategic Sourcing Expert 4 · 0⤊ 0⤋
Common charges include insurance for the building, but not your contents. If you do not buy insurance for you contents and there is a total loss, only your building will be rebuilt. You will not get any money to buy back the items that were lost from within your unit.
Take care,
Troy
2006-11-02 07:00:20 · answer #2 · answered by tiuliucci 6 · 0⤊ 0⤋
Correct; it just covers the common elements. You need Condo owner's insurance which insures the interior & optionally, your personal possessions.
2006-11-02 07:01:50 · answer #3 · answered by Anonymous · 0⤊ 0⤋
You actually have to get insurance for your contents... not the above mentioned "contents" but rahter your walls, your counters, your cabinets... all fixtures... plus the other kinds of..."possessions"
2006-11-02 07:29:17 · answer #4 · answered by Anonymous · 0⤊ 0⤋
insurance on a condom..and additional on your unit lol
2006-11-02 06:59:05 · answer #5 · answered by Sir_caterpillar 4 · 0⤊ 2⤋
Yes, you will need to buy your own policy.
2006-11-02 07:00:17 · answer #6 · answered by BoomChikkaBoom 6 · 0⤊ 0⤋
yes
2006-11-02 06:52:06 · answer #7 · answered by Kathleen M 4 · 0⤊ 0⤋