For a lot of Missouri residents, condo ownership provides the ideal living situation. For one thing, it provides most of the same benefits as homeownership without the amount of maintenance that houses need. It also provides the simplicity of apartment living without limitations. If you have a condo or plan to buy one, the right insurance coverage can help you make the most of your living space. At Swartz Premier Group Insurance in Columbia and Moberly, MO, we can help you make sense of your options.
First, what separates condo insurance from standard homeowner's insurance? For the most part, it boils down to the amount of coverage you get. Homeowner's insurance covers your home and surrounding property, such as your backyard or fence. Condo owners, however, don't usually need as much coverage as people who own houses. They have less space overall, and they may not necessarily own an area outside the condo itself. Condo insurance provides just the right amount of coverage. It covers the inside of the unit and any items stored there.
Although Missouri doesn't require condo insurance, many condo owners get coverage anyway. In some cases, you may still need insurance even without a state requirement. For example, if you buy your condo with a loan, your lender may require proof of insurance. Some neighborhoods and associations also require insurance coverage.
More importantly, condo insurance will help you stay prepared. Your condo is an investment. Condo insurance can help you protect that investment in case of a disaster like fire or theft. Whether you live in your condo or rent it out to others, protecting your property can help you breathe a little easier, so you can enjoy your property and make the most of it.
Are you struggling to make sense of your coverage options? We can help you here at Swartz Premier Group Insurance. Our experts can explain your possibilities and help you make the right choice for your property. Visit our offices in Columbia and Moberly, MO, or give us a call today.