Need condo insurance?
See below to better understand what your coverages mean and what all the different factors are that help determine your rate.
Understand Your Coverages
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Dwelling - determined by a rebuilding cost guide using your answers to the condo characteristics to the right in the rating variables section...and this will cover the interior of your unit, from the studs in...the condo association will have insurance for the exterior walls
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Personal Property - covers your stuff up to the limit on your policy including things like furniture, technology, kitchenware, etc.
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Loss of use / additional living expenses - this is the limit of expenses paid to you in a situation where you are not able live in your condo due to something like a fire
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Personal liability - covers you on AND off your premises for anything you would be liable for
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Medical payments - serves as a goodwill keeper, covers immediate medical expenses in a situation where you are liable such as an ambulance ride to the hospital
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Optional coverages
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Replacement cost on personal property / contents - means you would get new stuff for your old stuff in a situation where your stuff is destroyed by a covered peril
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Sewer & water backup for building & contents - this covers you in a situation where your condo or stuff is damaged by sewer and water backup
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Valuable articles - covers items for different kinds of losses such as losing your item
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Rating Variables
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Age
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Marital status - single, married, divorced, widowed
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Credit - ability to make payments
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Location - where you live within the state
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Insurance history - claims and tenure with prior carrier
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Policy details - coverages, limits, and deductibles
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Condo characteristics
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Year built
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Construction style - 1 or 2 story
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Foundation type - slab, crawl space, basement
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Basement - sump pump present, battery backup
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Bathrooms - # of full and half baths, quality
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Protection class - distance to nearest fire department and fire hydrant
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Square foot - total living space (excl. the basement)
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Attached structures - garage, porch, deck, patio
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Kitchen - quality
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Fireplace - gas or wood burning
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