Most residents of Chicago, IL have discovered the advantages of owning or renting a condo. They are conveniently located near growing centers, allowing you to access almost anything with ease. Getting condo insurance with Arial Insurance Group is an excellent way of ensuring that you are protecting your investment. Considering that the condo association insurance policy only covers the external part of your residence, here are a few benefits you will enjoy by getting your own condo insurance.
Liability Coverage
If your guests suffer an accident in your house and they get injured, or their property is damaged, you automatically become liable. That means you are supposed to cover their medical expenses and the cost to repair and replace the damaged property. However, your policy comes in handy with condo insurance and covers these costs, saving you from a financial loss.
Covers Personal Belongings
Like furniture, electronics, fine art, and jewelry, your personal property faces various risks like fire, water damage, theft, and vandalism. With condo insurance, if you are exposed to any covered risk, your policy covers the cost of repairing or replacing items, ensuring you are compensated for that loss.
Loss of Use
If your condo unit becomes inhabitable after suffering a covered loss, you will have to relocate till the unit is repaired. Condo insurance helps cover the additional expenses such as accommodation and transport. This ensures you are not left stranded for the time being.
Covers the Interior
Your condo association policy covers only the external structure of your home. When renting a condo, you are responsible for the internal structure, including fittings, fixtures, drywall, and carpets. When any of these are damaged, condo insurance covers replacement and repair costs.
At Arial Insurance Group, we want you to enjoy these benefits and more by insuring your condo. Our agents in Chicago, IL are ready to help you pick the right coverage designed for your needs. Contact us today for any assistance.
