Tennessee Condo Insurance Options

Condo Insurance

Condo Insurance

If you live in a condo, it means you do not own the building itself. Therefore, if an accident occurs in common areas or on the outside property, you are not responsible for them, and your homeowner's association (HOA) will deal with it. For this reason, many condo dwellers believe that they do not need any insurance. However, it is not true. If you want to protect yourself and your precious belongings in the condo, condo insurance is a must. For those who are shopping for this type of insurance, Tennessee Insurance Associates prepared the list of things that are important to know:

  1. Your condo insurance covers the following: fire and smoke, wind and hail, theft, explosions, lighting, vandalism, and burst pipe.
  2. Typically, it will not cover: damages caused by floods, earthquakes, and nuclear hazards, damages from underground water, damages from insects, birds, or rodents, wear and tear, and intentional injuries to others.
  3. The cost of condo insurance depends on several factors: the area you live, construction materials used for building a condo, how much the homeowners association (HOA) insurance covers, coverage limits and options you choose, and your deductibles.
  4. Taking a home inventory is important. Taking home inventory will help you to figure out the exact amount of personal property coverage and will help you during the claims process. It may take some time, but it is really worth it.

The importance of condo insurance is often neglected by many condo dwellers. However, it is as important as any other type of insurance because it provides financial protection and peace of mind. If you own a condo in Tennessee and you still do not have condo insurance, it is a perfect time to think about getting one. Tennessee Insurance Associates is an insurance agency you can trust. Having years of experience, our agents know how to find a perfect insurance plan for each client based on their needs and budget. Do not hesitate to give us a call today to find out how we can help you.

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