ABC's of Condo Insurance in AZ

Ever wonder exactly what the different coverage are for on your policy? Here is a helpful description that is easy to understand. If you have questions about your policy, just give me a call and I will be happy to go over it with you.

BASIC COVERAGE

Building Property Protection.  Coverage includes  the condo you live in. With most condo's, you are responsible for the sheet rock in, which includes things as sheet rock, wiring, plumbing fixtures, flooring, cabinets, electrical fixtures and more. Most condo associations are responsible for the roof, outside walls and common areas.


Personal Property Protection.  Coverage includes loss of furniture, clothing and other contents if stolen or damaged; this coverage is usually 60% of the dwelling coverage. There are limits on certain personal property such as jewelry, computers, guns and cash.


Additional Living Expenses.  Coverage that reimburses you for reasonable increases in living expenses when a covered loss occurs which makes your condo uninhabitable. This coverage may include payments for the cost of rent, hotel, food and other expenses.


Guest Medical Payments.  Coverage payments for necessary medical expenses including surgery, x-rays and dental work if a guest is injured on your property.


Family Liability Coverage.  Coverage to protect you if you are sued for damages after someone is  injured on your property.


Scheduled Personal Property.   Coverage that protects certain personal property such as jewelry you have itemized on your policy in case of loss, theft or mysterious disappearance.


Loss Assessment.   Allstate will pay for your share of any special assessments charged to you from the condo association, up to the limits on your policy, subject to a small deductible.


Extended Protection.   Your insurance company will pay your share of the condo association's Master Policy Deductible, up to the limits on your policy.


Deductibles.   The amount of co-insurance you have on your policy that you are responsible for any claim.

Hope this information is helpful.