Condo Insurance in New York
Insurance is intended to protect you from the unknown. Whether that means damage from a storm or broken appliances from a power surge. Like homeowners insurance, condo insurance is intended to protect the inside of your condo and your belongings. While there are many similarities, there are also many differences between personal condo insurance and your homeowner's association.
The biggest difference is many condo associations carry their own insurance that will cover the public spaces in your building. This means that your personal condo insurance does not need to cover areas that are commonly shared. Additionally, depending on the condo association, there may be certain aspects of your condo that are already covered by the association's insurance. This can include the exterior to your building, balcony, or patio area.
Often, many of these spaces are viewed as common spaces, or shared spaces, so any repairs to damage on the exterior of the building are covered by the blanket condo insurance your association owns. It is always a good idea to check with your condo association to learn exactly what is covered by your association's insurance.
Personal Condo Insurance
The ins and outs of condo insurance can be complicated, especially in states like New York, New Jersey, and Connecticut. The experts at Hudson Valley Insurance Brokerage, Inc. are here to help. Our professionals have years of experience and can walk you through the process to obtain new insurance or update your existing policies.
Proudly serving the residents of multiple states, Hudson Valley Insurance Brokerage Inc. makes it easy to speak with someone to get your questions answered fast. Visit our office in Stony Point, NY to learn how a personal policy can protect the inside of your condo and the belongings inside. We always welcome new clients to ask questions to better educate themselves on the policies offered. Condo insurance can be complicated, but our agents can guide you through the process.
Reach out to our agents for a quote and to learn how to start a policy. Don't be caught without insurance, and always protect your investments.