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Condo Insurance in Alabama
The condo market within Alabama has experienced remarkable growth, with more residents taking up an interest in this sector. Condo insurance has also not been left behind, with more people getting coverage for their condos. Below, Robinson Bryant Agency in Montgomery, AL reveals what condo insurance is all about, helping you differentiate this policy from a homeowners' policy.
Liability Insurance
Liability insurance takes care of claims related to bodily injury liability and property damage liability. If your guests get injured due to pet bites or fall accidents, liability coverage will help pay for the medical bills. If your property gets damaged when visiting your condo, this cover helps pay for the repair costs. Lawsuits are also covered when you are sued for these claims, allowing you to offset your legal fees and damages awarded.
Content Coverage
Content coverage protects personal property within your unit. These include electronics, furniture, and clothing. Perils that this policy can help cover include theft, lighting hazards, hail, and vandalism. Depending on the damage caused, content coverage will reimburse you for the repair and replacement costs needed.
Building Property Coverage
Building property coverage keeps the interior of your condo safe from hazards such as fire, hail, and vandalism. This policy covers the floors, tiles, interior walls, and sinks. Permanent fixtures are also covered, examples being bookshelves and cabinetry. It helps pay for the repair of these areas, covering your renovation expenses.
Loss of Use Coverage
Loss of use coverage is also referred to as additional living expenses coverage and will come in handy when your condo is deemed uninhabitable. It allows you to take care of temporary living arrangements such as accommodation expenses, transport, and meal costs until you can safely move back into your condo.
Condo insurance will be ideal for keeping your condo safe from unexpected disasters, giving you year-round protection. If you have recently purchased a condo in Alabama, consider calling Robinson Bryant Agency in Montgomery, AL today for a tailor-made policy.
