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Condo Insurance in Arizona
Just because you live in a non-traditional home doesn't mean you won't benefit from an insurance policy. For those living in the Phoenix, AZ area and around the state, condo insurance is a vital part of keeping your residence safe and in good repair. Condo insurance protects your attached dwelling from several common threats. How does an Arizona condo insurance policy from Bailey Insurance LTD help homeowners?
What Does Condo Insurance Cover?
Each insurance contract is unique. However, there are some basic coverages you can expect in a condo insurance policy.
- If your personal belongings are stolen or damaged by a covered event, your policy pays to replace them.
- Walls, flooring, countertops, fixtures, and other interior structural elements are protected under a condo insurance plan.
- Interior plumbing and electrical elements qualify for coverage under these plans.
- Damage to another person's body or property that occurs in your unit is covered under the liability portion of these contracts.
- Policies pay for temporary relocation while your unit undergoes repairs.
Modifications to the interior of your unit are also usually covered. You may also be able to customize your policy to cover your expensive collectibles, electronics, and jewelry. Some policies also include identity theft protection to help you sort through the mess caused by fraudulent activities. Talk to your insurance agent for a more personalized assessment.
What Isn't Covered by Condo Insurance?
Condo insurance typically covers things in and around your unit. However, there are some notable exclusions.
- Common areas like courtyards, parking lots, and shared laundry rooms are not included in your condo coverage. However, your vehicle may be covered if it's damaged or broken into while parked in your building's lot.
- Outer walls and underground pipes are generally covered under your building management's insurance policy.
- The actual land that your building sits on lies under the jurisdiction of the homeowner's association's policies.
It's important to remember that all insurance policies have a maximum payout. If you own high-value items, you may need additional coverages for full protection.
Bailey Insurance LTD writes condo insurance policies for residents in the Phoenix, AZ area. Contact our representatives to learn more about the benefits of condo insurance.