Condo Insurance in Michigan

Suppose you are about to buy a condominium in Michigan as a starter or a vacation home. You need to consider condo insurance from Mitten Heritage Fraternal Society of Insurance in Berrville, MI. While your condo insurance is protected by the condo owners' association (COA) master policy, this coverage only covers the common areas like the lobby and swimming pool. However, you need a condo insurance policy to protect yourself and your assets.

Condo insurance coverages

If you are shopping for condo insurance in Michigan, you are likely to come across the below condo insurance coverages:

Interior coverage

As mentioned, damages incurred in your condo's interior are your responsibility. You will need to invest in condo insurance to cover your walls, roof, and floors when it is damaged by a covered peril.

Personal assets

Your condo looks excellent because of assets like furniture, fixtures, decor, and electronics. What if a fire emanating from an electrical mishap consumes your assets? In that case, you will have to start from scratch. Thankfully, if you have condo insurance, it compensates you for damages to your asset, lessening your financial burden.

Liability coverage

Assume you invite a friend to your house for a birthday party. After taking a few drinks, she slips on the staircase, suffering a hip dislocation. While the injury was accidental, you could be liable for her medical expenses.

Since accidents are bound to happen, you need to invest in liability insurance to protect you from third-party claims. Liability insurance covers you when accused of bodily injury and property damage by other people. Besides, it saves you when sued by third parties.

Loss of use coverage

If a covered peril damages your condo, condo insurance pays for additional living expenses until your condo becomes livable once again.