Owning a condo in California is a great way to achieve your goal of homeownership without the added work and expenses of a single-family home. Like a traditional home, a condo is a major investment, and you'll want to protect it with condo insurance. This unique insurance type is similar to standard homeowner insurance, though there are a few differences. Here's what you need to know.
Why Condo Insurance Is Needed in California
While the state of California does not require condo insurance for condo owners, most mortgage lenders do require it until your loan is paid off. Not only that, but many condo associations and communities require it as well. Even if you fully own your condo and your HOA doesn't require condo insurance, it is still a good idea to protect yourself with sufficient coverage for emergencies.
California Condo Insurance Components
A typical condo insurance policy includes several coverage categories:
Wherever possible, it is best to get as high of a coverage limit as you can comfortably afford. This will give you the greatest legal and financial protection so you and your loved ones can have peace of mind. In an emergency situation, it is far better to have too much coverage than not enough.
Protect Your California Condo with Robust Insurance
The PolicyNow Insurance Services team is here to assist you with all your condo insurance needs in California. Get in touch with our team today to learn more about your options and give your condo the coverage and protection it deserves.