Individual Homeowners Insurance Policies

In addition to the Master Condominium Insurance policy each owner should purchase an “Individual Homeowner Policy”. 

If you haven’t looked at your policy recently, below are additional options to think about as your review your policy:

LOSS OF USE:  This would cover the cost of living somewhere else if your home becomes uninhabitable.  With major damage you may not be able to return home for quite some time.  Paying a mortgage and paying rent could be very costly.  Check with your insurance company to find out what your options can be. 

PERSONAL PROPERTY:  Insurance companies describe your personal property as whatever falls out if you were to turn your unit upside down. 

LOSS ASSESSMENT:  This option could help in the event your property has an unexpected peril (causes injury, loss or destruction), such as fire, wind damage. Etc.  Special assessments for maintenance items are not covered.

PERSONAL LIABILITY:  This would cover damage done by your unit to units below or next to you, and provide liability coverage in case of injury in your unit.