I Own My Condo. Do I Need Insurance?

Even though you may own your condominium unit outright, I highly recommend that you have insurance. Not having insurance could really put you in a bad situation if you have some sort of a leak in your unit from the water heater or plumbing, or it could be a unit above you, or it’s the side of your unit that has some sort of leak and it causes extensive damage in your unit. This could be thousands of dollars. It makes sense to have your own insurance if you own a unit so you can avoid the potential high out of pocket expenses that you may incur.

If you have questions about your coverage, schedule a policy review with your insurance broker or an experienced property claims attorney.

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