Four mistakes to avoid regarding condo insurance

Getting condo insurance is important if you are a condo owner in Atlus, OK. You can get the insurance policy you’re looking for from Dobbs & Braddock Inc.

Condo owners need to avoid costly insurance mistakes.

Here are four mistakes to avoid regarding condo insurance:

Thinking that your condo insurance policy covers you for flood damage

While condo insurance covers condo owners for numerous types of damage, flood damage coverage is not typically included in a condo insurance policy. Condo owners need to invest in a separate flood insurance policy if they need flood coverage. 

Being unaware of insurance coverage requirements stipulated by your HOA

Most condo owners need to meet various HOA requirements. Condo insurance is usually required by HOAs. If you own a condo, you need to understand the condo insurance requirements that you need to satisfy as part of the terms of your HOA agreement. 

Assuming that you should purchase the least expensive policy available

When you buy condo insurance, you should get quotes from a  few insurance providers and evaluate your options. While price is one factor you should consider, you should also consider other factors including coverage amounts and customer service offerings provided by insurance providers in your area. 

Underestimating your need for liability coverage

Some condo owners assume that they only need to meet minimum requirements when they buy liability coverage. However, investing in additional liability coverage can provide condo owners with additional financial security that pays off down the road. 

Schedule A Consultation Today

If you need a quote on a condo insurance policy, you can call us at Dobbs & Braddock Inc. Get in touch with us to insure your condo unit in Atlus, OK.