Condo Insurance in Orange County

You chose to purchase a condominium in Orange County, close enough to the beach but also near enough to jump on the 5 to get to work. In owning you condo, you have the benefits of having less stress than with a single-family residence. But, there are still some key insurance issues that you must consider. While associations assume much of the upkeep and insurance for their communities, individual owners remain responsible for losses and damages to their own units and property.

For example, upgrades or renovations made by prior owners are normally not covered by an association’s policy because these policies typically exclude coverage for additions made after the complex was initially insured.

Working with an independent insurance agency that understands the intricacies of insurance for condominium owners is important when securing your coverage. An independent agency will provide you with protection for items and events that aren’t covered by an association’s policy, and help you insure your personal property from such calamities as fire, theft, and vandalism.

Your Condo policy will also provide liability coverage in the event someone is injured on your property while visiting you. What’s more, the policy can also provide loan assessment coverage, which steps in when the association lacks sufficient insurance to cover damages to the whole building, or damages arising from a lawsuit.