In Massachusetts, the type of condominium insurance that is right for you depends upon the answer to one question, are you buying or renting? If you’re just renting, you need insurance to protect your belongings only. However, if you’re buying the property, you need a higher level of protection.
Are You Buying the Condo?
Condo Insurance in Boston is a necessity if you’re buying. This protects your investment fully. With this coverage level, you’ll acquire restoration services if the structure is damaged. This includes fires, natural disasters, and water leaks.
When these events displace you from your home, you’ll receive living expenses. These benefits are temporary, yet provide you with enough funding to pay for a hotel room and your necessities. Basically, you’ll receive these payments until your restoration is completed.
Replacing Your Brand-Name Belongings
As a homeowner, your Condo Insurance in Boston provides you with replacement-cost coverage. Essentially, this portion of your policy replaces belongings that you lost, such as televisions, stereos, and more. It pays for the cost of items that are equivalent to what you had. This includes an assessment based on the model and manufacturer of the items lost. When the items are no longer available in stores, your carrier could make adjustments to cover the full price of replacement when similar models are in stock.
When You’re Renting
You can get condominium policies when you rent to protect your belongings. This form of coverage also protects you from the common tenant-landlord liabilities. The protection stops your landlord from suing you for damages. It allows you to file a claim through your carrier to have the condo repaired. This is highly beneficial if you have an indoor pet. It also protects against liabilities associated with animal bites. Browse website for more information.
Your circumstances determine which policies are right for you. With Condo Insurance in Boston, you can acquire a policy that is tailored to fit your lifestyle. This could include additional coverage for valuables and other items which you keep within the condo. If you’re buying a condo, you should also discuss insurance requirements with the homeowner’s association to determine if they have any special requirements. For a free quote, you should visit Sawyer Insurance Agency Inc. today.
