Condominium Insurance Policies In Las Vegas

When purchasing a condominium, you may not know that you need condominium insurance. Condominium complexes usually retain a master insurance policy, but the coverage is really limited. It is very important for you to evaluate what master insurance policies include and the necessary coverage of individual Las Vegas condo insurance policies. This article covers condominium insurance policies in Las Vegas.

Definition of Master Insurance and What It Encompasses

Master insurance policies for condominiums typically protect the framing and common areas (i.e. halls, stairways, and the roof and siding). It does not usually protect unit-specific components such as heating and cooling, electronics, fixtures, etc. More importantly, it does not protect personal property such as furniture, televisions, and clothing. Policies range, so you should request a copy of the policy for your condominium project to review its scope.

Added Benefits of Individual Condo Insurance Policies

Other than not encompassing the structure of the building, MA personal condominium insurance is actually like normal homeowners insurance. It normally insures against burglary, fire, some types of weather damage, vandalism, debris, and damage involving automobiles or planes. It can also include personal liability coverage which applies if individuals become hurt in your property or if you cause damage to someone else's home. A low amount of coverage is commonly included for personal assets. Further coverage can be purchased for jewelry, equipment, collectible items, and high-end improvements (such as a luxury kitchens or appliances).

Cost of Condominium Insurance and Where to Begin

A majority of the time, Las Vegas condominium insurance is actually less than typical homeowners insurance. You should contact your insurance agent for guidance on how much coverage you should have. Your agent may ask about the square footage and upgrades of your condominium plus what you have for personal valuables. He/she might also ask for the master insurance policy to verify what is included. Going through this process will establish that you have the right coverage to accommodate your circumstances.