Condo Insurance

As more and more condos are built around Aston, PA, we find more and more first-time condo owners calling or visiting the Fulginiti Insurance to ask us questions about what type of condo insurance they need. It helps first to rule out the areas the condo association already covers.

What Your Condo Association Insurance Covers

Also known as the master policy, most Pennsylvania condo association’s policies cover common areas like swimming pools, clubhouses, playgrounds, and any other areas you share with your fellow condo owners, including hallways, lobbies, and stairways. Since the condo association and/or management oversees utilitarian areas like the furnace or boiler room and laundry room, none of these are areas you need to insure. Nor do you need to worry about the roof and building infrastructure. Your responsibilities lie within the confines of the unit you are purchasing.

What Your Condo Owner Insurance Provides

Condo Owner Insurance helps you pay for repairs needed within your unit as well as providing compensation for belongings that may be stolen or damaged due to a fire or vandalism. Typical coverages available to you include:

• Personal liability: Should someone fall or be otherwise injured while in your unit, and you are found to be at fault, this type of coverage will help you pay for resulting medical costs, and in many cases, your own legal expenses related to the incident.
• Building Property Coverage: helps pay for repairs to interior walls and built-ins like bookcases and fixtures damaged by a covered peril.
• Personal Property Damage: provides payment to repair or replace personal property such as furniture, electronics, clothing, and appliances should they be stolen or perish in a covered claim.

It is crucial to keep in mind that each type of the above coverages come with a limit and a deductible chosen by the owner at the time of purchasing the condo owner policy. You may find it helpful to discuss just what you can afford with one of us at Fulginiti Insurance. While you’re here, we can also answer your questions about purchasing flood insurance should you live in certain areas of Pennsylvania, and whether you should consider purchasing umbrella insurance, which kicks in to pay for broad liability claims or judgments when the limits of your Aston, PA condo liability coverage have been exceeded. Give us a call today or stop in when you’re in our area.