Condo 保险 in 内华达
Many lenders don't require their borrowers to have condo insurance, and most condominium associations don't require owners to have condo insurance either. That doesn't mean that you shouldn't have it, though. Having your own condo insurance will protect you inside your condo unit walls when your association's master policy doesn't cover you. At Leo 保险 Group, we offer condo insurance for condominium owners in and around Las Vegas, NV, or anywhere else in 内华达.
What Does Condo 保险 Cover in 内华达?
Condo insurance ordinarily includes several different types of coverage when a loss occurs by a covered risk. Here are some typical examples:
- Interior Walls: Your association's master policy covers your building's exterior walls, but not the interior walls of your unit. In the event of a small fire, your walls and interior fixtures would be covered.
- Personal Property: Anything in your condo that isn't a wall or fixture is personal property. That includes your clothes, electronics, computers, furniture, and appliances. All of them are insured against damage or loss from a covered peril.
- Your Personal Liability: If somebody is accidentally injured in your condo property through your fault, personal liability insurance will cover the expenses of a personal injury claim or lawsuit up to the limit of your policy.
Personal Property: Actual Cash Value or Replacement Cost?
There is more than one type of personal property coverage that you need to be aware of. Your choice is central to how much your insurer will pay you in the event of a covered loss. Actual cash value contemplates depreciation of your personal property. With replacement cost coverage, depreciation is irrelevant. The repair or replacement cost is paid. For valuable personal property, consider special coverage endorsements.
Contact Leo 保险 Group with Your Questions
There's no good reason for you not to have condo insurance. Leo 保险 Group in Las Vegas, NV can custom fit condo insurance for your needs. We'll be pleased to help you with condo insurance.