Condo & Co-Op Insurance
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If you own a townhome or condo, you have different New York insurance needs than the typical homeowner. Not only do you own your individual condo, you also share ownership in the common areas and overall structure of your building. If shared areas need upkeep and maintenance, your association will typically handle the expense through their insurance package. Although your association dues help pay for upkeep of the common areas, they do not typically cover your personal property within your own unit, or your liability if someone is injured on your property.
New York condominium insurance provides protection where condo associations do not. Condo and townhome coverage protects your possessions within your unit, including furniture, appliances, kitchen and bath facilities and your personal items. If you plan on upgrading your unit, any improvements you make will also be covered under your policy, including wall units, renovations, wallpaper.
While you may be inclined to think your association’s insurance will cover your co-op, think again. The sad fact is that association policies only cover the building as a whole and focus on general liability issues.
When it comes to losses sustained through theft, fire, or liability claims stemming from your property – you will need a dedicated co-op insurance policy to protect your investment.
At Keats Agency, we’re dedicated to helping you understand what our co-op insurance solutions entail. We can help you protect your dwelling space and your personal property for less than what you would expect to pay from another agency.
If you would like to learn more about our co-op insurance policies – the costs, our carriers, and their coverages – please feel free to call and speak to one of our knowledgeable agents at your earliest convenience.
Contact Keats Agency today for more information about the condo and co-op insurance plans we offer throughout New York and Georgia.