If you’re renting a condo, the answer to this question is yes – you do need insurance. Although your landlord may have insurance that covers the property, this does not mean that your belongings are protected.
If something happens to your home or possessions while you’re renting, you’ll be responsible for the costs yourself if you don’t have insurance. Here we discuss why it’s important to get insurance when renting a condo and how it can protect you in an emergency.
What’s Condo Insurance?
Condo insurance is a unique type of homeowners insurance specifically designed for condominium owners. Unlike traditional homeowners insurance, condo insurance covers the interior of your unit as well as any common areas owned by the condominium association. Condo insurance also provides liability coverage in the event that someone is injured while in your unit.
Why Do I Need Condo Insurance if I am Renting?
You may think that your landlord’s insurance will cover any damages to your belongings or the unit itself, but this is not always the case.
Even if you’re renting, it’s important to have your own condo insurance policy in place. This type of insurance can help to protect your personal belongings in the event of a fire, theft, or other covered peril.
Condo insurance can also provide coverage if you accidentally damage someone else’s property while living in the unit. If you do not have your own policy, you could be held responsible for paying for the repairs out of your pocket. This makes it essential to get a policy from a professional company such as Ellis Insurance Agency in San Antonio, TX.
Get Coverage For Your Condo
It’s important to get insurance when renting a condo. Condo insurance can protect your belongings in the event of damage or theft, and it can also provide liability coverage in case someone is injured while on your property. Now that you know how much you need a condo insurance policy, Ellis Insurance Agency in San Antonio, TX can help you find the right coverage for your needs. Give us a call today to learn more.