Whether you rent or own a condominium, it's a great way to live. Many condo residents enjoy the spaciousness of a large apartment or small house, along with close neighbors. If you rent your condo, you may also enjoy perks such as landscaping and maintenance. For young adults and retirees, condos offer a very attractive way of life.
One thing that many renters don't consider, however, is renters insurance. Many renters in Utah believe that their landlord's insurance will cover their belongings in case of an accident, theft or disaster. Unfortunately, this is usually untrue. Getting condo insurance is one of the best ways to sufficiently protect your assets from loss.
Crime is a problem for Utah residents, especially for renters. Renters encounter 50% more crimes than those who own their homes. For many of these people, there's no way to replace their belongings or repair their property, unless they've invested in renters insurance.
Condominium insurance is a set of policies put in place to cover the most common risks that condo renters and owners face. A typical condo insurance policy for a renter may include the following:
If you own your condo, your lender most likely requires you to maintain insurance on the property until the loan is satisfied. This is to protect both you and the bank in case of a disaster. When searching for condo insurance quotes in Utah, be sure to ask about the different coverage options available for owners.
Whether you own or rent a condo, the insurance company will need to gather some basic information about you and the property in order to get an accurate picture of your situation and the risks you face. When searching for quotes, make sure to be familiar with the following:
These factors, plus many others, will be considered when putting together your quote for condo insurance.
Just like many other types of policies, condo insurance also offers discounts. The following discounts may be available:
Each insurance agency offers different discounts, so be sure to ask your agent about new discounts, or discounts you may not be aware of.
When searching for condo insurance in Utah, it's critical to have a professional agent by your side making sure you're getting the best coverage at the very best price. A Trusted Choice® agent is always available to help you discuss policy options, coverages and discounts, or even help you file a claim.