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Condo Insurance in Maryland
Owning a condo is like owning a freestanding home in some ways but different in others. While you won't have to worry about maintaining the exterior of your condo and the lawn maintenance, you will need to protect the interior and your personal possessions. Understanding what is covered by your condo associations insurance policy is important when determining what you need from your coverage. In Maryland, if you have a mortgage, chances are your lender will require that you have condo insurance to protect their investment. At SG Agency in Arnold, MD we understand condo insurance and we can help you choose the right coverage.
Things happen and if your unit is damaged by fire, smoke, wind, vandalism and other covered occurrences, your condo insurance will cover everything inside the exterior walls. Your furniture, appliances, floors, electronics and personal possession will all be covered. This can mean repair or replacement. Your property is covered even if you have it with you away from your home.
If someone is hurt while visiting your condo this coverage provides for medical costs, litigation and even a judgment against you. It covers all members of your family including your pets.
If your condo is broken into and your personal items are damaged or stolen, your condo insurance will pay to replace them. It will also cover items that have been stolen from your car or from you when you are traveling.
If one of the covered occurrences happens and your condo is made uninhabitable, your condo insurance will help to pay for a place to stay until your unit is ready to welcome you back.
Understanding exactly what your condo association insurance covers and what is your responsibility can be confusing. If you live in Maryland, in or near the Arnold, MD area, our staff at SG Agency can help make finding the right policy for your needs easy and affordable. Stop by or give our office a call and let us help you protect your assets.