Condo Insurance in Alabama
Own a condo in Tuscaloosa, AL? It’s probably giving you a substantial amount of rental income. And even if you have decided to live in it, it’s giving you the comfort and convenience of living in a location adjacent to an urban area. While your condo is a worthwhile investment, have you thought about condo insurance? Yes, you may be contributing to the condo owner’s association (COA) policy. Still, it would help if you had condo insurance from Baldo-Downs Insurance LLC to cover personal assets and safeguard yourself against the liabilities and damages occurring inside your condo.
What does condo insurance cover in Alabama?
You are questioning the idea of investing in condo insurance since you are already contributing to the COA policy. Condo insurance is a worthwhile policy because it covers the following areas:
- Personal assets: How much have you spent in accumulating your assets? When you conduct a home inventory, you will be surprised that your home assets are quite valuable than you think. Suppose a fire ravages your condo, consuming everything you own. Do you have enough savings to replace what you have lost? You need condo insurance to protect your assets, whether your answer is yes or no.
- Personal liabilities: Like home insurance, condo insurance covers you, your pet, and family members when accused of causing personal injury or property damage to third parties. For instance, if your dog bites a neighbor, condo insurance pays for the medical and legal costs if you are sued.
- Loss of use: When a covered peril (like fire) makes your dwelling unhabitable, condo insurance pays for additional living expenses until your condo becomes dwellable again. The costs covered include transport, laundry, food, accommodation, and other expenses listed in your policy.
- Inside of the condo: When your COA doesn’t cover the inside of your condo, consider condo insurance to compensate you when damages happen to your condo’s interior.
Since all policies aren’t created the same, it’s essential to contact Baldo-Downs Insurance LLC to design a personalized policy for you. Contact us today, or visit our Tuscaloosa, AL offices to start the conversation.