Long Beach Condo Insurance

More than likely part of your HOA fee goes to the insurance coverage that your condo association has purchased for your unit's building and common areas within your condo community. But, you are left to your own devices when it comes to damage within your dwelling unit. This often leaves condo owners feeling vulnerable. You may even find that to purchase a condo within a specific community you are required to purchase a "walls-in" insurance policy before you are allowed to live within the community. 

Luckily, condo insurance coverage is not expensive and the coverage options are vast. You may even find that you are able to get a discount on your auto insurance policy if you purchase this condo coverage with the same company. 

As you are shopping through different condo coverage options, be sure that you understand what these condo coverage terms mean...

Coverage Options

• Personal Property - will cover the policy holder's personal property, no matter where they are in the world. Specific limitations as to the types of items covered and the types of loss covered will apply. 
• Dwelling or Improvements - applies to fixtures and improvements within your condo. For example, if you improve or fix your cabinets lighting or any free standing fixture this coverage may apply. 
• Loss Assessment - if your condo association should levy an assessment on your condo as a means of improving or repairing common areas, this coverage will apply. 
• Loss of Use (Additional Living Expenses) - should your condo become uninhabitable as the result of a covered loss, this insurance coverage will pay for your living expenses while you cannot live in your home. 
• Personal Liability - Should a claim or a suit be brought against you as a result of bodily injury or property damage, this coverage will come into play.  It will also cover defense costs. 
• Medical Payments to Others - will pay for the medical expenses that someone incurs as a result of the insured's property or actions. 
• Workers' Compensation - Should a personal, part-time employee be injured on the job, this insurance will pay their medical expenses. 
• Condos Rented to Others -if you should rent your condo to another person, this coverage will provide you with liability and contents coverage.