Mississippi residents in urban centers like Jackson, or in beachfront cities like Gulfport, choose to purchase condos or townhomes, instead of freestanding houses. Condominiums offer conveniences like landscaped grounds, community pools, and sometimes security services, as well as great locations near shopping and work. If you own a condo, you can protect your investment with Mississippi condo insurance.
An independent agent in the Trusted Choice® network can help you find condo insurance to protect your home and its contents from the financial impact of damage and loss, including your liability risks as a home owner. Contact a local agent today, to compare Mississippi condo insurance quotes that fit your home and lifestyle.
Your home is most likely your biggest investment, and it contains many important possessions. For this reason, you are right to wonder what your condo association covers and what incidents or damage are your responsibility.
The master policy insures certain things, but each master policy is unique, so it is important to read the policy carefully and cover any gaps when you buy your Mississippi condo insurance policy. The policy will typically include:
The condo's master policy may or may not cover windows, pipes, wiring, interior walls and appliances.
The master policy does not cover improvements you make to the condo, like lighting, flooring, or wall texturing. You are also financially responsible for the property you keep in the home, as well as accidents that occur in your condo. Condo insurance, otherwise known as an HO-6 policy, insures the interior of your condo against the expense of a fire, storm, burglary, or lawsuit.
Condo insurance provides liability and property damage insurance for the interior of your condo. Usually a Mississippi condo insurance policy includes the following types of coverage:
A local independent agent can discuss your condo with you, and help you find the right coverage for your situation, at a price you can afford.
In addition to your basic Mississippi condo insurance policy, you may need additional coverage, such as:
A member agent can help you find all of the insurance you need at reasonable rates.
If you rent your condo from the owner, your landlord's policy covers the flooring, walls, and any appliances provided by the owner. However, all of your personal property is your financial responsibility. Also, you are liable for accidents that occur due to your negligence.
Renters insurance provides liability coverage, to pay a portion of a lawsuit against you for an in-home accident. It also gives you property coverage for your possessions. Since most renters keep an average of $20,000 in personal property at home, an inexpensive renters policy can pay off after a disaster.
Condo insurance is often less expensive than traditional homeowners insurance, because the structure and grounds are covered under the condo association's master policy. Your actual policy premium will depend on several factors, including:
A local agent can help you compare policies from several insurance companies, and help you find the right one for you.
Most major insurance companies provide condo insurance, with a variety of policy types and prices. An independent agent in the Trusted Choice network can provide Mississippi condo insurance quotes from several different insurance carriers, and help you find the coverage you need at an affordable rate.
Contact a local agent today, to discuss your townhome or condominium, and find Mississippi condo insurance tailored to your needs and budget.