Many of those living in condos mistakenly believe that they don’t need insurance. Why? They feel there’s no need for insurance because the association they’re living in is already insured. Yes, the condominium building you’re living in is insured but this doesn’t mean your personal property is safe. Check out the following information to better understand why Condo Insurance in Fort Myers is so important.
For starters, your personal property may not be as secure as you think under the association’s insurance policy. These policies are typically meant to protect the entire building you’re living in. For instance, if the building was severely damaged by a fire, the association’s insurance policy would pay for repairs. If the entire condominium building was damaged by an earthquake, you wouldn’t have to worry about paying out-of-pocket for any repairs to your condo.
However, condo owners are often responsible for more than they think. For most association insurance policies, occupants are responsible for everything contained within their interior walls. This means that you’re responsible for most of the damages that occur in your condo. If you accidentally damage the flooring or the walls of your condo, you’ll have to pay to have it fixed.
Most association insurance policies also fail to cover things like theft and vandalism. For instance, if an intruder broke into your condo and stole your desktop computer, you’d be responsible for having it replaced. You’d also be responsible for any water damaged that has occurred inside of your condo.
These are all reasons why you need condo insurance in Fort Myers. Having condo insurance will protect your personal belongings. Certain insurance policies will pay you the value of your lost items or will pay to replace them.
With that being said, you should think twice about skipping out on condo insurance. Again, the association’s insurance policy doesn’t necessarily protect your belongings. The building itself is safe under these policies, but your property isn’t entirely safe. In order to fully protect your property, you need to buy and maintain condo insurance. Condo insurance will pay to make repairs inside of your condo. If you ever have your belongings stolen or vandalized, your condo insurance policy will cover that as well.
