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.
If you are shopping for condo insurance in Michigan, you are likely to come across the below condo insurance coverages:
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.
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.
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.
If a covered peril damages your condo, condo insurance pays for additional living expenses until your condo becomes livable once again.
Ready to start with condo insurance? Please contact Mitten Heritage Fraternal Society of Insurance in Berrville, MI for an affordable quote.
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