Condo Insurance
Do you own a condo? Protecting it should be your number one priority. Condo insurance, also known as HO-6 insurance, aims to keep your condo unit protected all while providing liability coverage should you need it. We offer condo insurance here at J.C. Leap Agency Inc. in New Jersey. We will work with you to find a policy that meets your needs.
Condo Insurance Requirements
Condo insurance is not legally required in New Jersey. But, it is possible that your mortgage lender may require you to have it.
Condo Insurance Coverage
Here’s what condo insurance covers:
- Dwelling: This coverage is responsible for covering any permanently attached property that is installed in your condo unit. Your condo association’s policy must not cover these attachments.
- Personal property: This coverage will pay for expenses if you lose valuable items within your condo unit, they become damaged, or stolen. These items include clothing, furniture, computers, and TVs.
- Loss of use: This will cover your living expenses if you need to live elsewhere if your condo unit is deemed uninhabitable temporarily. The living expenses covered are housing, food, and other living expenses.
- Medical payments to others: This will cover another party’s medical expenses if they are injured while on your property. It is possible that they may also cover additional injuries. For example, if your dog bites someone while you are at the park, this may cover the other person’s medical expenses.
It is important to note that your condo policy will not cover damages resulting from flooding, earthquakes, freezing pipes, and more.
We Are Here To Help
If you are interested in receiving a quote for condo insurance, give us a call here at J.C. Leap Agency Inc. today. We are located in New Jersey. Our agents will be more than happy to assist you in finding a policy that meets your needs.
