HOA insurance has its perks for condo owners. But it mainly covers the unit’s exterior and the building’s common areas. You’ll need condo insurance from us, Five Star Insurance Agency in Fords, NJ, to protect the interior of your condo and provide liability coverage. It covers the following scenarios that HOA insurance does not:

• Suppose your personal belongings, such as furniture, clothing, electronics, or jewelry, are damaged or stolen due to fire, theft, vandalism, etc.. In that case, condo insurance will reimburse you for their replacement cost or actual cash value.
• If someone is injured or their property damaged while visiting your condo, condo insurance can cover your legal fees and medical payments if your companion sues you and the courts hold you liable.
• You want to upgrade your condo, like installing new flooring, cabinets, countertops, or appliances. If these fixtures and appliances get damaged by a covered peril, condo insurance can cover the cost of repairing or replacing them.
• Your condo unit becomes uninhabitable because of a covered loss, like water or smoke damage. Condo insurance will pay for your additional living expenses, like hotel bills, while your unit gets repaired.

Review your HOA’s policy and bylaws before you bridge your coverage gap with condo insurance. This will give you an accurate picture of what the HOA covers and what you’re responsible for so you’ll know what type of coverage you need. You should also contact our agents at the Five Star Insurance Agency in Fords, NJ, for personalized and professional advice. We’ll ensure your new condo insurance policy gives you all the protection you need.