Richard Turner Insurance Agency Blog
As mentioned in my previous blog, townhouse and condominium insurance are a little different than homeowners’ insurance. Just to catch people up: homeowners insurance covers the interior and exterior of a building. Townhomes and condominiums are run by an association that oversees the exterior of the building and the common grounds. Homeowner’s association fees pay into insurance that generally covers the exterior of the building as well as the grounds surrounding the home. Owners of condos and townhomes are responsible for insuring the interior of the home. So, what exactly does that entail?
There are two main types of insurance for this situation:
Bare Walls In insurance refers to coverage for the walls and structural elements of a home. If there were flooding or fire damage, the structure - wood, nails, etc. would be replaced. This is the most basic insurance you can get.
All In Insurance covers lighting fixtures, flooring, tile and major appliances such as the stove and refrigerator. Bathroom sinks and the like are also covered.
What neither of these policies cover are personal belongings. We believe that if you value your art, jewelry and/or furniture, you need to have Personal Property Coverage. Think of what it would mean if your grandmother’s hand-woven rug was damaged or lost due to theft or natural disaster? What about the antique roll- top desk that has been passed down from generation to generation? A collector of used books? What would your collection cost to replace? Part of getting Personal Property Coverage is having the value of your personal belongings assessed by a professional or having receipts that show the value of the belongings.
We always want our clients to be covered so that in the event of a tragedy, natural or man-made, our customers are able to rebuild their lives as quickly and painlessly as possible. To do this, we recommend All In Insurance, so that you can focus on taking care of your emotional needs instead of material needs, as well as Personal Property Insurance.
At Richard Turner Insurance Agency, we are always happy to review current policies or write a new policy that reflects your individual needs. We understand how valuable a home is and how personal belongings make each home individual.
Want to know how we can help you? Call us today.