Why Every Condo Owner Needs Condo Insurance

When you own a condo, it can be a great way to build equity and live in a great area. It’s important, however, that you protect that condo with a condo insurance policy. This policy protects you against many different risks so that you are well protected against a wide range of circumstances and occurrences. If your condo isn’t yet covered by a condo policy, don’t wait. Call us now at Pikes Peak Insurance Agency in Falcon, CO to get the protection you need. 

Why Every Condo Owner Needs Condo Insurance

It’s Likely Required

In most cases, it is required for condo owners to have condo insurance. If you take out a mortgage to finance your home, the lender almost certainly requires that you have this coverage in case something happens to it. Even if you don’t have a mortgage on it, most condo boards require you to have condo insurance. While you own your condo, you are subject to their rules. They don’t want to have condos in their complex that are damaged because the owners can’t afford to fix them after a damaging incident happens to them. 

It Offers Great Protection

If something did happen that damaged your condo, repairs could be highly expensive. When you have an insurance policy, it pays for the repairs needed after a covered event happens to it. With this coverage, repairs can be made and paid for by the policy. This coverage also gives you liability protection. It will cover you in case someone has an accident in your home and ends up with medical bills from it. This can keep you from expensive financial liability.

Get Condo Insurance Today

Every condo owner needs this important protection to keep themselves covered in a number of ways. If you need this type of insurance, call us at Pikes Peak Insurance Agency in Falcon, CO.