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Condominium Insurance


Condominium Insurance Information

Condomimiums

 

What is condominium insurance?

Condominium insurance is similar to homeowners insurance but is designed for the specific needs of condo living. Many families choose condos because of the convenience of on-site maintenance and access to community amenities. In this environment, the main structures of all buildings and common areas are covered by an insurance policy held by the condo association. However, a personal condo insurance policy may cover property damage and liability risks of the unit owner.

Who benefits from condominium insurance?

Condo insurance is beneficial for all condo owners as well their visitors. In fact, most mortgage companies require condo owners to purchase a policy for the duration of their loan. Condo insurance may cover damaged, lost or stolen property due to fire, theft or natural disaster. This protection could extend to interior furnishings, including walls, flooring, ceilings, appliances and fixtures.

In addition, this type of policy could cover you against liability claims. If you are found liable for a visitor’s injury, condo insurance could cover associated medical expenses and/or legal fees.

How much condominium insurance do you need?

The necessary amount of condo insurance largely depends on the value of your possessions. By determining how much it would cost to replace your possessions, you can estimate the policy size that would be appropriate for your individual needs.

Call us today to learn more about protecting your home with condominium insurance.





 
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Securities and investment advice offered through Investment Planners, Inc. (Member FINRA/SIPC) and IPI Wealth Management, Inc., 226 W. Eldorado St., Decatur, IL 62522. 217-425-6340.
Tomei Insurance Agency is not affiliated with Investment Planners, Inc. or IPI Wealth Management, Inc.
Insuring: Gurnee, Waukegan, Zion, Mundelein, Libertyville, Grayslake, Antioch, Ingleside, Round Lake, Round Lake Park, Round Lake Beach, Beach Park, and Great Lakes, Illinois as well as Kenosha, Racine and Pleasant Prairie, Wisconsin. Along with other counties in Lake County, IL and we're just a short 40 miles north of downtown Chicago.
 Check the background of this firm on FINRA’s 
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Check the background of this investment professional on FINRA’s
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223 N. IL Route 21 (at Washington St) | Gurnee, IL 60031
Toll Free: (877) 336-8595 | Local: (847) 336-8595 | Fax: (847) 336-6598 |Email Us
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