Condo Insurance in California
Condominium owners in the Aliso Viejo, CA area need special policies to protect their property and personal assets. The experts at MPX Insurance Services Inc. offer condo insurance policies that ensure your belongings are always safe.
What is Condo Insurance?
Similar to renters and homeowner's insurance, condo coverage protects the personal belongings of the subscriber from loss or damage. While contract specifics vary, a condo insurance policy generally includes the following coverages:
- The interior of your unit (walls, electrical outlets, flooring, etc).
- Your personal belongings (clothing, jewelry, electronics).
- Any customizations or improvements you have done to your unit.
The outside of your dwelling is covered by your property manager's policy. These policies cover common areas and shared structures. Some policies may cover equipment and vehicles that are stored on the premises or outside of the unit. If your bicycle is stolen from your porch, your renter's insurance policy will most likely cover the loss.
Tips for Getting the Most from Your Condo Insurance
- Talk to your insurance representative about your policy coverage to ensure the limit is high enough to allow you to replace or repair all of your property if a catastrophic loss occurs.
- Take pictures of your high-value items. Label them with the purchase date and original value. This will help you decide what kinds of coverage you need. You may be able to request an insurance agent to walk through your home and help you assess its value.
- Consider upgrading your policy with Replacement Value coverage. Most policies will pay out the current value of your property. This is not always enough to replace it. Replacement Value coverage ensures that your payout is sufficient to replace lost items.
- Ask your insurance agent about special coverage for high-priced electronics, collectibles, or business supplies that are stored in your unit. These often require additional coverages.
- If you run a business from your home, consider additional liability coverage to protect your income and your home.
MPX Insurance Services Inc. serves the insurance needs of residents in the Aliso Viejo, CA area. Contact us to learn more about California condo insurance.