As a condominium owner, you might expect the insurance policy provided by your homeowner association (HOA) to cover your home. Unfortunately, the typical HOA policy does not cover the interior of your condo and its vital contents, which is why it's crucial to secure the proper insurance and make sure you are covered. Mark Twain Insurance Services provides condo insurance to clients in Stockton, Angels Camp, Sacramento, Modesto and surrounding areas.
Generally, HOA insurance will cover damage to the exterior of the condominium building and common areas, such as walkways and stairs. However, it does not cover the interior walls and incidents that may happen inside of it, as well as your belongings on the premises.
Condo insurance (also known as an HO-6 insurance policy) can cover the following events:
Keep in mind that even if the HOA policy does cover damage, there might be limits to what the HOA's policy limit will allow. For example, some HOA policies won't cover plumbing or wiring-related issues. It's important to keep yourself informed on what your current coverage is and make sure you're protected.
Other factors will also determine what kind of condo insurance is right for you, such as where your home is and what kind of materials were used to construct the building. Don't put off planning in the event of a disaster for your home and contact the team at Mark Twain Insurance Services to request a free quote.