Condo Insurance in Abilene, TX & all of Oklahoma, Alabama & Texas
The Basics of Condo Insurance
If you live in a condo, you probably enjoy some degree of basic insurance coverage from your condominium association. Typically, such coverage is limited to one of the following three policy types:
- Coverage for the complex’s primary buildings and common areas
- Coverage for each building and for items within each unit deemed property of the complex
- Coverage for each building, each individual unit, and for any fixtures or occupant-made improvements to the unit
What Does Condo Insurance Cover?
With proper condo insurance, you can protect yourself and family from fires, wind and hailstorms, lightning strikes, theft, and other unexpected events not covered by your condominium association.
Condo Insurance Liability Coverage
Condo association coverage typically includes a small degree of personal liability coverage. However, this coverage is not sufficient to protect most occupants against every possible liability.
For instance, if a guest suffers an injury or property damage while on your premises, your association coverage probably won’t pay the damages. This situation could become especially problematic if you get sued for negligence. Additionally, injury or property damage to condo occupants themselves is wholly excluded from most association coverage.
Know Your Condo Insurance Coverages
It’s important to familiarize yourself with the courtesy coverages provided by your condo association. Understanding these coverages will help you make educated decisions regarding condo insurance and the coverages you need to buy to attain maximum protection.
Condo Insurance Protects Your Investment
As with conventional homeownership, your condominium represents one of the biggest investments you’ll ever make. Without condominium insurance, you stand to lose nearly everything if or when unforeseen disaster strikes. Like solid home insurance then, comprehensive condo insurance protects your assets, allowing you to more-easily recover and resume a normal life in the wake of unforeseen disaster.
Are There Any Condo Insurance Exclusions?
Also like homeowners policies, specific types of events are not covered by condo insurance. These include damage from:
- Earthquakes and mudslides
- Natural deterioration and neglect
- Birds, rodents, insects, and domesticated animals
Discounted Condo Insurance with Multiple Policies
If you purchase condo insurance through a Wicker-Parker-affiliated provider, you may qualify for discounted rates if you’re already a Wicker-Parker policyholder. Whether you’re an existing Wicker-Parker customer or not, ask us about multi-policy discounts when you bundle a condo policy with other insurance types.
For a Free Auto Insurance Quote, Contact Wicker-Parker Insurance Agency
If you’re shopping around for condo insurance in Abilene, Texas, we’d be delighted to hear from you. As an independent insurance agency, we partner with numerous insurance carriers. We do the shopping around for you!
We’re committed to empowering you to make informed decisions about condo insurance, and we’re here to answer all your questions. For a free car insurance quote, click here, or call Wicker-Parker Insurance Agency today at 325-437-0677!