The state of Oregon has beautiful coastline views and dense, deep forests; it also has the famous Portland area, Seattle and many other beautiful cities. The residents of Oregon also enjoy a lower-than-average crime rate compared to other states, which gives many peace of mind. If you rent or own a condo in Oregon, condo insurance can be a wise investment. Condo insurance can offer you protection and coverage for some of the most common disasters. Read the following information to find out what you need to know before you start your search for quotes and this important coverage.
Renting is a popular option in Oregon as it allows the benefits of space and privacy without the hassle of maintenance and upkeep. However, many renters believe that their landlord's insurance policy can cover their belongings. Unfortunately, that is usually not the case. The landlord's policy typically provides coverage "to the studs." In lay terms, the landlord's policy covers the building from the outside to the inner studs of the apartment walls. The landlord's policy does not cover fixtures, furniture or belongings. This leaves renters financially vulnerable to events such as a natural disaster or injury.
Condo insurance offers renters and condo owners coverage from some of the most common events and risks that condo owners and renters face. A typical condo insurance policy in Oregon may contain the following coverage:
Insurance companies offer insurance packages to both owners and renters of condos. However, the types of coverage offered to each differ. For those who own a condo, the insurance policies offered will more closely resemble a homeowners insurance policy since insurers require this insurance for most mortgages.
This insurance also offers protection for renters and their belongings rather than for the structure.
Both situations can benefit from insurance, however, as disasters still occur whether you rent or own a condo.
When looking for condo insurance quotes in Oregon, it's important to have the following information available:
All of these factors, plus many more, will influence determining the most accurate quotes for your unique situation.
As with other types of insurance, you can get discounts on condo insurance in Oregon. When getting quotes for condo insurance, be sure to ask about the following discounts:
This is not an exhaustive list of discounts. Each insurance company offers different discounts to its customers, so be sure to ask about any discounts you may not be aware of.
Getting protection for your assets and property in your condo is simple. However, it's important to have a professional to help you get the best coverage available for your unique situation. A Trusted Choice® agent is always available to help you discuss coverage options, find discounts, adjust policy limits and even help you file a claim.
Make sure you have this important coverage. Contact a Trusted Choice agent near you for more information, quotes and coverage.