In condo complexes, a unit policy is separate from a master policy, which covers the entire condominium complex. The master policy provides liability coverage for all of the common spaces and amenities, such as the exterior of buildings, hallways, elevators, lobbies, exercise areas, swimming pools, and other features that all condo owners share. It typically doesn’t cover any damage to individual units of condominiums. This is where unit policies come in. Blue Hen Insurance LLC, serving the Middletown, DE area, is here to assist with all your queries.
What does a condo unit policy cover?
Unit policies are specific to each individual owner and provide coverage for damages to the owner’s property inside their condo unit or apartment. These policies may include coverage for furniture, appliances, and any other personal belongings that the unit owner owns. They can also provide additional living expenses if you are forced out of your home due to a covered loss such as a fire or natural disaster.
In addition to covering damage to your property, most condo unit policies will also provide liability coverage if someone is injured in your home or if you cause damage to someone else’s property while you are living in the condo. This type of coverage is important because it helps protect you from financial losses related to lawsuits or medical bills for injuries caused by you or on your premises.
Unit policies should always be supplemented with a master policy since it covers items that no single unit owner could be responsible for – like structural damage caused by storms or fires that impact multiple units at once. Both types of insurance work together to ensure that all condo owners are adequately protected against potential disasters that can occur within their shared community space.
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If you have any additional questions, give Blue Hen Insurance LLC a call today. We proudly serve the Middletown, DE area.