Owning a condo comes with several responsibilities, and one of the most important of them is to get a condo insurance policy. This policy protects you against a broad range of problems that can occur. If you're in Alabama and you need a condo policy, contact us at Southern Risk Associates in Foley, AL to find out more about them.
When you own a condo, there are portions of it that you own and portions that are owned by the condo board. The outside walls, the roof, and the common areas are generally insured by the condo board that owns them. Your owned space includes the inside of your condo. Some condos include the ownership of the area in between the outermost walls and the inner walls, and some only include up to the inside walls. When you get condo insurance, it's important to know exactly which portions you own so they can be insured properly.
All of the belongings that you keep inside your condo are also covered by your condo policy. The best practice is to record all of your belongings on video or to take pictures of it so that you have proof as to what you owned before a disaster or calamity ruins or destroys them.
When someone gets insured or sick while inside your condo, you may be held liable for the medical bills. Your condo insurance contains some liability coverage, so you won't have to pay for it out of pocket.
No condo owner should ever be without condo insurance. If you need a policy and live in Alabama, call us at Southern Risk Associates in Foley, AL to talk to an agent about the insurance you need.