Protection for your condo
Protection for you and other people
Condominium insurance is unique. Your condo insurance policy covers your personal property and liability, as well as any additions, alterations and improvements you make to your unit that are your responsibility based on the condo association agreement.
Optional loss assessment coverage is also available to protect you against certain assessments that may be levied by the association. You would be compensated for additional living expenses incurred should you need to vacate your condo after a covered loss.
Condo insurance provides coverage for your personal property and much more. For a few more dollars, you can elect to carry Full Value Personal Property which ensures that you are reimbursed full replacement value without regard for depreciation after a covered loss.
If you have upgraded cabinets or put in hardwood floors, condo building item coverage protects these investments. Be sure to consult your HOA agreement to determine what the Association policy covers and what you are responsible for. If common areas are damaged, your condo association may levy assessments against all the owners to pay the deductible on their association policy.
Various limits of loss assessment coverage are available. Be sure to consult the HOA agreement to determine the potential for such assessments.
This covers medical expenses for guests if they are injured on your property, and in certain cases covers people who are injured off of your property. It does not cover health care costs for you or other members of your household.
Additional living expenses
If you can't live in your home because of a covered loss, your home insurance policy will pay additional living expenses-commonly for up to 24 months-while damage is assessed and your home is repaired or rebuilt.
Protection for your belongings
Your home is filled with furniture, clothes, electronics and other items that mean a lot to you. Personal Property Insurance helps replace these items if they are lost, stolen or destroyed as a result of a covered loss.
Scheduled personal property coverage
If you have special possessions such as jewelry, art, antiques or collectibles you may want to talk to your agent about this additional coverage. It provides broader coverage for specific items.
Protect the things that matter to you
Make an inventory of your home and personal belongings. If possible, make a list as well as take photos or video - using two inventory methods can help expedite the claim resolution process. Keep this list somewhere other than your home. Keep in mind that your policy doesn't cover damages caused by poor or deferred maintenance on your part.
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How much home insurance is enough?
Your home is the center of your daily life, and likely your most valuable asset. When your home is damaged or destroyed, you need your claim settled by an insurance company that understands this simple fact. Bassett Insurance Group can help you find the condominium insurance that will best meet your needs and provide the most valuable combination of tailored coverage, quality service and fair pricing.
Get premium insurance without a high premium
Discounts are available if you have a burglar alarm or a fire sprinkler system installed in your home. You may also qualify for a lower rate if you live in close proximity to a fire station.
Less than 10 years old
Qualify for a newer home discount when your house is less than 10 years old.
Choose a higher deductible
A higher deductible will lower how much you pay for your home insurance premium by shifting part of the loss payment to you. For example, if you have a $500 deductible, you’ll need to pay the first $500 of a loss out of your own pocket. A higher deductible will lower your home insurance bill, but will also increase how much you’ll end up paying yourself if you file a claim.
Pay your bill in full
If you pay your bill in full when you start or renew a policy, instead of paying in monthly installments, you’ll end up paying less in the long run.