Condo Insurance in San Diego

Condo Contents Insurance is really important and is often overlooked by many condo homeowners, especially first time home buyers. Your condo or townhouse association might already has a “master policy” to protect the building itself and structure.

So, why do you need condo contents insurance? You may need additional insurance to cover your personal items and personal belongings, additionals/alterations inside your unit, and personal liability coverage. To begin, there are two main types of condominium insurance packages:

Personal condo contents insurance policy: This important policy can provide coverage for your personal possessions, structural alterations and improvements (such as upgraded cabinetry, flooring, etc) to the interior of your condo/townhouse. Also included is additional living expenses if you are displaced due to fire, theft or other disaster covered in your policy. You also may also get personal liability protection.

When you rent your condo out to others, it is important to make sure your insurance company knows this so that they can provide you with the correct type of insurance policy. This is sometimes known as a condo rented to others or condo landlord insurance policy. This type of insurance policy will usually provide you with important coverage when you rent out your condo to others. Some of these extra coverages include loss of rents coverage and vandalism coverage in the event of a covered loss. This type of policy usually covers for your condo and personal belongings in your rented condo, but it will not provide coverage for your renters pesonal belongings or tenants. So, it is important to make sure that your tenants get a renters insurance policy to cover their own personal belongings and items.

A “master policy” homeowners assoaciation commercial insurance provided by the condo homeowners association: This covers the common areas you share with others in your building such as the building/structure, parking garage areas, the roof, basement, elevator, and walkways, etc.

To insure your condo or townhouse unit, it is important to know what parts of your condo or townhouse are covered by the association insurance policy and what are not. If you aren’t sure, check with the homeowners association board, read the bylaws, or CC&R;’s. It is very critical to protect the interior of your condo if the master policy at your condo/townhouse association does not provide coverage. Your condo or townhouse is a large investment and you want to make sure to protect your interest in your home. If you have any questions, please call our office at 619-889-0889 to speak with a local San Diego insurance agent.

What are some ways to save or get discounts on my Condo Insurance?

There are many ways to save on your condo insurance. You can save money and lower your premium on your condo insurance by increasing your deductible.

Another way to save on your insurance premium is by having your car insurance with the same insurance company as your home or condo insurance. By having your car insurance and home insurance with the same insurance company, you may be elligible for a multi-line discount.

Having an active central burglar or fire alarm might give you additional discounts on your home or condo insurance.

If you have a newly built condo or home, you may receive a discount on your insurance depending on when it was built.

It’s always best to check with your California insurance agent to see what discounts are available.
Important insurance terms and keywords to consider when reviewing condo contents insurance:

Dwelling Improvements, Alterations, and Additions – For Condominium owners, you can add coverage for accidental damage to improvements you make in your unit for which your association’s policy does not provide coverage, subject to your condo insurance policy limits.

Additional living expense – If your condominium becomes unliveable due to an insured loss; your Insurance can pays for those extra costs of houseing, eating expenses, etc., up to your applicable limit.

Personal Property – Condominium Contents insurance can provide coverage for your household contents and personal belongings. You may think your couch, coffee table, sweaters, shoes, coats, TV, VCR and CD player aren’t worth a lot but those items all add up. Make sure to ask about personal property replacement provision and additional coverage.

Loss assessment – This can be used to pay for your share of property damage or injury awards for which your association’s policy does not provide coverage. Typically, up to $50,000 is available, but this may vary depending on your policy.

Personal Liability – In the event someone is injured on your property or you damage property that belongs to others, you could be held legally liable for the injury or damage. The condominium policy provides personal liability coverage to financially protect you should this ever occur. This includes unintentional acts committed by qualified family members, while engaged in such activities as hunting, fishing or other sports. The acts of your pets. The unintentional acts commited by you or qualified family members, either on or off your premises.

Disclaimer: The information contained in this Web site is provided solely as a source of general information and resource. It is a not a statement of contract and coverage may not apply in all areas or circumstances. For a complete description of coverage’s, always read the complete insurance policy, including all endorsements and exclusions.

Although we are a San Diego based insurance agency, we can help with most everyone in California for their insurance needs. Even though most people prefer a local insurance agent near their local zip code, our office delivers the same local insurance agent experience with exceptional customer service. Whether you are located near Riverside county, Imperial County, Los Angeles County, and San Bernadino County, we are just a quik phone call away. We can help anyone in California with insurance needs including the following zip codes and local California community areas near our insurance agency or just a quick call away: