The master association master condominium policy typically protects only the common areas of your building, leaving your personal property and the unit interior at risk. We’ll make sure you understand your bylaws and have the protection you need so that in the event of a loss you are properly protected.
Protecting What Your Association Policy Does Not
Condominium insurance is unique. Your condo insurance policy covers your personal property and liability, as well as any additions, alterations and improvements you make to your unit that are your responsibility based on the condo association agreement.
Optional loss assessment coverage is also available to protect you against certain assessments that may be levied by the association. You would be compensated for additional living expenses incurred should you need to vacate your condo after a covered loss. Let Truska Insurance help you find the right amount of coverage to suit your insurance needs in Chicago, IL. Call us today at 312-802-8817.
Illinois, Michigan, Missouri – What you need to know about condo insurance
Condo insurance provides coverage for your personal property and much more. For a few more dollars, you can elect to carry Full Value Personal Property which ensures that you are reimbursed full replacement value without regard for depreciation after a covered loss.
If you have upgraded cabinets or put in hardwood floors, condo building item coverage protects these investments. Be sure to consult your HOA agreement to determine what the Association policy covers and what you are responsible for. If common areas are damaged, your condo association may levy assessments against all the owners to pay the deductible on their association policy.
Various limits of loss assessment coverage are available. Be sure to consult the HOA agreement to determine the potential for such assessments. Truska Insurance can help you determine your coverage needs to make sure you’re properly covered. Call us at 312-802-8817 online at email@example.com.
Protect yourself and your guests
Your condo insurance policy protects you and your family members against bodily injury and property damage liability claims and any litigation that may result subject to the limits you select. In addition, you can select medical payments coverage which will pay for medical expenses incurred by a visitor who is injured at your residence regardless of fault. Various limits are available.
Extra coverage doesn’t have to cost a lot
Many people supplement their condo insurance coverage with personal umbrella liability insurance for broader protection. If you have special valuable items such as jewelry, art, antiques or collectibles, ask about our Valuable Articles option which provides broader coverage and no deductible in the event of a covered loss.
Find unique insurance that is right for your condo
Contact Truska Insurance to identify the best combination of coverage, value, and price for you. We can help make sure your condo insurance continually meets your needs. Call us at Truska Insurance Agency, Inc. 312-802-8817.
3 Risks Of Relying on Your Homeowner Insurance for Jewelry Coverage
Homeowner Insurance may not provide enough coverage that is accidently lost or damaged including worldwide travel.
A typical home policy may have a deductible of $500 and may only cover up to $1,500 for certin types of losses.
Filing a jewelry claim could raise the premium or, in some cases, cancel/non-renew your entire homeowner policy.
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It never hurts to shop. With our vast network of companies, we can typically save our clients hundreds of dollars when switching their insurance to us.