When you're searching for condominium insurance, you clearly want to get the cheapest policy with a top-rated company. Here is how you can do exactly that:
The Reasons You Need Condominium Insurance
Condominium insurance is different from standard home insurance because your association insures your building with a master policy. This policy typically covers the wall structure, the roof structure, and also the floors of your building.
Because the association insurance policy only insures the roof, walls, and floors, you must insure your own personal property, home appliances, plus your inside walls. Before buying an insurance policy you need to check with your condominium association to see what's insured, and what is not.
- Personal property coverage - It pays to replace your personal possessions - furniture, clothes, consumer electronics, tools, sports gear, etc. - when destroyed by fire, smoke, plumbing related water leaks, or even acts of nature.
- Condo liability insurance covers you in the event that a person were to hurt himself inside your condo and sue you in court. Liability coverage pays for court-awarded damages, as well as your court expenses and attorney's fees if you are sued.
Standard policies include $100,000 to $300,000 worth of coverage, however you can buy more coverage if you have numerous assets you need to protect.
Where To Get Affordable Condo Insurance Coverage
Condo insurance can vary by hundreds of dollars from one insurance provider to the next. The best way to receive low priced price quotes is to pay a visit to an insurance comparison site where you are able to obtain quotes from various insurers and compare them.
Once you've found a low cost price, it is possible to lessen your rate even more by:
Raising the deductible. This can help you save hundreds of dollars a year on your premium. This is one of the biggest money savers.
- Get every single one of the discounts that you are qualified for, such as discounts for using burglar alarm systems plus smoke detectors installed within your condominium, discounts for having dead bolt locks plus window locks, discounts for being a non smoker, plus discounts for being a senior 55 years or older. Don't presume your insurance provider will offer all of them to you. Ask for every single one of the discounts you are eligible for and include them in your insurance policy.
It's so simple and easy to evaluate price quotes on the internet so that you can make sure you receive the very best rate possible. All you do is spend a few moments filling out an easy online questionnaire with specifics about your condo to get your price quotes.
I recently did an online comparison for my own home insurance plan and I was amazed at just how much I saved. The insurance premium for my policy was $895 annually. It took less than 3 minutes to complete the information then send in the form, and less than 5 minutes after I submitted it I received a telephone call from two neighborhood insurance agents, and also 4 email quotes.
After comparing the email price quotes and getting insurance quotes from the 2 insurance agents, I ended up choosing a policy for under $300 - saving $604 for spending less than half an hour of my time!
Whenever you're shopping for condominium insurance I think you'll find it worth your while to go to an insurance comparison site to get price quotes. It's fast, it's convenient, and it's free.