Author: admin

Owning a condo in the Webster Groves, MO community is a great way to create a home with less maintenance and stress. However, if there is an incident at your condo unit, Travers Insurance is here to protect you.

Understanding condo damages and protection

When you own a condo you probably enjoy a less stressful lifestyle than homeowners. Even with this lower level of maintenance, it’s important to know what your responsibilities are in the event of damage.

Your condo board will carry insurance that covers the building structure and all of the common areas. You will be responsible for any damage that occurs in your unit. 

It is important to review your condo regulations and familiarize yourself with your responsibilities. In many buildings, you are responsible for any damage that occurs in your unit, even if you did not cause the damage.

For example, if your neighbor has a flood in their unit that leaks into your unit and causes damage, you may be responsible. Double-check your condo rules to see if you are responsible for all damage that affects your unit. There may be extenuating circumstances in some situations, but it’s key to learn what your responsibilities are.

Don’t be caught off-guard! Now is also a great time to review your current policy for completeness. Having an appropriate policy with adequate coverage levels can make dealing with any damage-causing situation much less stressful. Don’t wait until it’s too late and find out after an event that your condo insurance policy does not provide the protection you need.

Give us a call today!

If you would like to find out more about the condo unit policy options available in the Webster Groves, MO area, give Travers Insurance a call today.

Condo insurance seems like a luxury. In reality, it’s a necessity.

While an association has its own plan, these policies are often limited. Travers Insurance wants to ensure you’re prepared. Located in Webster Groves, MO, the agency shares four types of coverage found in most condo insurance policies.

Building property protection

An owner’s policy covers only the structure of the building itself. Condo insurance fills in the gap, protecting the inside of the unit. This insures flooring, cabinets, walls, and other permanent fixtures. If any of these is destroyed, damaged, or stolen, condo insurance will pay for replacements up to the policy limit. Consult your association agreement to determine what areas may be deemed your responsibility.

Personal possessions coverage

Fortunately, your belongings are safe too. Like other items inside your dwelling, condo insurance will chip in to help cover any loss or damage. Every policy will identify protected events, like water or fire damage. Theft and vandalism are also usually listed.

Personal liability insurance

Most all insurance policies include liability protection. If someone is injured while inside your residence, this coverage is necessary. It reimburses any expenses incurred as a result of the incident, such as medical bills. Liability also pays for related legal costs if you are sued.

Loss of use coverage

While it seems unlikely, accidents do happen. If your condo becomes uninhabitable after a natural disaster or other extreme incident, loss of use is important. Sometimes referred to as "additional living expense coverage," this provides payments for additional costs associated with temporary relocation.

Contact agent serving Webster Groves, MO

If you rent or own a condo, Travers Insurance can help. Their trusted agents can create an individualized policy to protect you and your home. Call to set up an appointment today.