Our condominium insurance coverage includes most eventualities a condo owner could experience, whether a unit in a high-rise, townhouse, or community.
You, like everyone else, require personal property and liability insurance. However, you'll also need coverage specific to condo living. Get a condo insurance quote today from Herring Insurance of Amarillo to discover how much you’ll save.
Condominium associations usually insure the building structure and shared spaces, but the interior of each unit is the responsibility of the condo owner. For instance, if a fire spreads to multiple condo units, causing smoke and fire damage, you’d be liable for all interior repairs, including sheetrock, flooring, cabinets, lighting fixtures, and other items, as well as your possessions.
Fire, lightning, windstorms, hail, collapse, vandalism, burglary, theft, and other perils are covered by condo insurance. In addition, your personal belongings, appliances, fixtures, unit interiors, modifications, and improvements are all also covered.
If you're comparing condo insurance quotes from several firms, make sure they all have similar coverages, limitations, and deductibles.
Consider your resources when determining the maximum sum the insurance company will payout for a covered claim.
The world around us is unpredictable. Condo insurance protects your unit and personal property in case of unexpected fire, lightning, theft, or vandalism.
The insurance policy for your condominium or co-op also covers accidental damages, like a neighbor slipping on a wet kitchen floor or water leaking into walls and fixtures.
From the construction of the building to the color of your interior paint.
The condo association's liabilities will cover all common facilities, including stairwells, corridors, walkways, parking lots, pool areas, and grounds. Your policy will serve as a backup if the condo association's liability is exhausted due to excessive liability loss. Death or significant accident, for example, exceeds the condo limit.
We strongly encourage you to obtain a copy of your condo association's master policy and review, verify, and compare it to any other exposure you may be unaware of. Some condominium associations have different master policies than others.
Herring Insurance of Amarillo will work closely with you to assess if you have sufficient replacement cost coverage to renovate your whole interior, as well as how much it would cost to replace the number of rooms with contents in the event of a catastrophic loss.
Keep in mind that your bank or mortgagee will ask you to cover the approximate loan sum. We'll find a happy medium that works for everyone while staying within the needed internal structural coverage.
Please contact us to obtain a ballpark estimate of how much your content will cost to replace. Interior walls, fixtures, flooring, and cabinets are not included.
Do you wish to save money? Discounts are available if your home has certain safety features, such as doorbell cameras, monitored alarm system, etc.
A condominium association's shared ownership arrangement is a typical structure enabling unit owners to create a condominium owners association to control the building's administration. From modest apartment buildings with a few units to large condominiums with hundreds of units, all of these structures require insurance coverage. We can provide you with a quote or more information about condominium association insurance.
Examine the types of coverage offered in the standard policy and determine whether you want to add any additional optional coverages.
Some condo insurance policies have a deductible which is a sum you’ll be responsible for paying out of pocket if you file a claim. Therefore, for each condo insurance quote you obtain, be sure to double check your deductible.