Condominium insurance policies offer a number of important protections. The specific protections that a particular policy offers, however, depend on the coverages it contains. If you own a condominium in Westfield, Massachusetts, here are five coverages you may want in your condo insurance policy.
Are These 5 Coverages Included in Your Westfield, MA Condominium’s Condo insurance Policy?
1. Coverage for Interior Walls
Condominium associations’ master insurance policies generally provide coverage for a condo’s structure, but a few bare-bones master policies might only cover shared and exterior walls. Request a copy of your condo association’s master policy and see how much coverage it provides for your condo. If the master policy doesn’t provide coverage for interior walls that don’t abut another unit, you’ll want to obtain coverage for these walls through a condominium insurance policy.
2. Personal Property Coverage
Most condo policies include personal property coverage, and you likely won’t have a hard time finding this coverage. It’s important to make sure, however, that your policy’s personal property coverage meets your needs. Generally, the coverage’s limits should be at least equal to the cumulative value of your belongings, and it shouldn’t exclude or place low limits on any particularly expensive items you own. When reviewing this coverage, pay special attention to any exclusions or limits placed on firearms,
3. Coverage for Your Appliances
Most condo insurance policies include coverage for appliances within their personal property coverage. Make sure that all of the appliances, including both large and small ones, in your condo are covered, and check to see what perils they’re protected against. A policy normally won’t protect appliances from normal wear and tear, but it might offer coverage for power surges, fires and other potential risks.
If you’re Westfield, MA condominium is damaged or destroyed, replacing everything in it won’t be the only expense you’ll have. You’ll also need to find alternative living arrangements until your condo can be restored, which may take a while to do.
Loss of use coverage can help pay for alternative accommodations if a covered incident renders your condo uninhabitable. The coverage might help you pay for a hotel room or other living arrangements, meals, and other expenses that you incur.
5. Liability Coverage
Liability coverage helps protect you in certain incidents where you’re held responsible for another person’s loss. Depending on the particular terms and conditions of your policy, this coverage might offer protection in the following situations:
A guest slips in your kitchen and injures their back
Your child posts something on social media that’s deemed
A domestic worker you hire is injured while in your condo
Your dog bites someone while on a walk
Usually, liability coverage will pay for legal fees and settlements associated with covered incidents (up to the coverage’s limits).
Review Your Condo Insurance with a Westfield, MA Insurance Agent
If you aren’t sure whether your condo insurance includes these coverages, contact one of the independent insurance agents who serves Westfield, MA. An independent agent who’s licensed in Massachusetts will be able to review your condo association’s master policy and your condominium insurance policy to make sure you’re properly protected. If you need additional protections, they can also help you make adjustments to your coverage or find a new condo policy that better meets your needs.