The ABCs of Condo Insurance

Condo insurance sometimes referred to as “walls-in” or “paints-in” insurance, is used to complement your master condo owners association (COA) policy. While the master policy covers the exterior of your dwelling and liabilities occurring on common areas, condo insurance is responsible for the interior. 

Is condo insurance mandatory? While Oklahoma doesn’t require condo owners to purchase condo insurance, this coverage is pivotal in protecting you and your property. Need to learn more about condo insurance? Keep reading.

Areas covered by condo insurance 

When you buy condo insurance from Dobbs & Braddock Inc. of Atlus, OK, it will cover you in the following areas.

Your dwelling interior

Condo insurance covers your building’s interior, including the walls, roofs, floor, and other fixed appliances. While condo insurance doesn’t prevent risks like fire from occurring, it gives peace of mind knowing that you won’t start from scratch when the unthinkable happens.

Loss of use

If a covered event damages your dwelling such that it becomes uninhabitable, you may have to look for temporal shelter. In the process, you will incur additional living expenses that you hadn’t planned for. Thankfully, if you have condo insurance, these expenses are covered until your dwelling undergoes complete repairs. 

Personal liability coverage

If you are legally responsible for bodily injury or property damage on someone else, condo insurance covers the ensuing liabilities, including legal costs. For instance, if someone trips on your stairs and hurts their leg, condo insurance covers their medical expenses. Similarly, condo insurance should cover the property damage if your son hits your neighbor’s window with a ball.

Personal property coverage

Your condo wouldn’t look like a home without assets like furniture, electronics, appliances, and clothing. And since it has cost you thousands of dollars to accumulate your belongings, you need condo insurance to cover you when the worst happens.

Condo insurance compensates you when fire, theft, and other covered perils damage or lead to loss of your assets. This way, you don’t have to start from scratch.

Buy condo insurance today!

Are you shopping or looking to renew your condo insurance in Atlus OK and its environs? Please get in touch with Dobbs & Braddock Inc. for a competitive quote.