Why do you need Condominium Insurance?
In a sentence you need Condo insurance to protect what your HOA does NOT COVER. (NH Condo insurance is also called a NH HO-6 Insurance).
Condominium insurance is unique. Your NH HO-6 condo insurance policy covers your personal property and liability, as well as any additions, alterations and improvements you make to your unit that are your responsibility based on the condo association agreement.
As you might expect with any kind of insurance there are options for you to consider- here are 5 things that we suggest you consider when buying NH CONDO (NH HO-6) insurance coverage:
- Optional loss assessment coverage is available to protect you against certain assessments that may be levied by the association.
- Additional Living Expenses- You would be compensated for additional living expenses incurred should you need to vacate your condo after a covered loss.
- Personal Property Enhancements Condo insurance provides coverage for your personal property and much more. For a few more dollars, you can elect to carry Full Value Personal Property which ensures that you are reimbursed full replacement value without regard for depreciation after a covered loss.
- Additional Building/Dwelling Coverage If you have upgraded cabinets or put in hardwood floors, condo building item coverage protects these investments.
- Computer & Smartphone Provides additional protection, including higher limits and additional covered causes of loss for computers, peripheral devices, and software.
Let Atlantic Insurance & Benefit Company help you find the right amount of Condominium home insurance coverage to suit your insurance needs in NH and Massachusetts Call us today at 603-882-2909.
Be sure to consult your HOA agreement to determine what the Association policy covers and what you are responsible for. If common areas are damaged, your condo association may levy assessments against all the owners to pay the deductible on their association policy.
Various limits of loss assessment coverage are available. Be sure to consult the HOA agreement to determine the potential for such assessments. Atlantic Insurance & Benefit Company can help you determine your coverage needs to make sure you’re properly covered. Call us at 603-882-2909 or request a NH Condo Insurance quote online here.
Atlantic Insurance & Benefit Company offering New Hampshire CONDO insurance quotes 24/7.