When purchasing home insurance for your condo or townhome, you need to be sure that you get a policy that adequately covers the cost to repair or rebuild your property. A standard homeowners policy will cover and reimburse the cost to fix damage to your home in the event of included, named perils such as … Read more
When you’re preparing to purchase a home, your mortgage lender may require you to purchase title insurance. The reason lenders ask borrowers to purchase these policies is because they don’t want any legal and financial claims on the property that become known after the sale is finalized to cause lengthy ownership legal battles over the … Read more
The structural components of your condo and the property within are covered by two types of policies: a master policy purchased by your condo association and the individual condo insurance that you choose to purchase. When you purchase a condo, your mortgage lender will require you to obtain a condo insurance policy that complements the … Read more
Although condos are purchased and not rented, condo owners won’t be able to purchase homeowners insurance for their property. Homeowners and condo insurance policies have several important distinctions that condo and homeowners need to know when considering properties they want to buy. At the end of the day, condo and homeowners will generally have similar … Read more
In the United States, condo insurance costs average for 2020 is $478 for an annual premium. The cost of condo insurance policies, however, can vary greatly, and to understand why, you need to know how condo insurance works and what can affect the types and amount of coverage needed to adequately protect yourself, your condo … Read more
When shopping for the best condo insurance, you need to take a look at a variety of options, but the process can feel overwhelming because of how many policies there are on the market. Much like homeowners insurance, standard condo insurance includes several different types of coverage. While you want to be able to find … Read more
