Condominium Insurance Information
Condominium Insurance - Stafford, Fredericksburg, Dale City, VA
What Is Condominium Insurance?
- If your home was destroyed by fire or damaged by a natural disaster, you'd need money to repair or replace it.
- If a guest in your home is injured, liability protection and medical coverage help pay expenses.
- If you are a victim of theft and vandalism, it can reimburse you for your loss or pay for repairs.
- If you are still paying for your home, your lender may require insurance.
It is important to know that condominium insurance is meant to cover unexpected damage, not routine maintenance. Ask your agent to talk about what is covered and be sure to read your policy so you know exactly what's included and what is not.
Things To Consider And Questions To Ask Your Agent
Here are few things to discuss with your agent that will influence your decisions.
- How much will it cost to repair the portions of the unit that I am responsible for and replace my belongings if they are damaged or destroyed? (Ask your agent to talk you through your home's features and the things you own so you can make an informed decision about coverage.)
- Does the insurance company have a good reputation for customer service? Is it known for paying claims fairly and promptly?
- What discounts are available? (Ask about multiple policy, security system and fire resistance discounts.)
- What's the process for filing and settling a claim? (Ask who to call and what happens after you file a claim.)