Condo Insurance

Condo Insurance is a little different from the typical home insurance in the sense that, as a condo owner, you are only responsible for your unit whereas the condominium association takes care of the building itself. Condo insurance gives you both liability and personal property protection. You might also need to add some coverage options required by the condominium association.

It's not mandatory to have condo insurance in Texas. Even so, it's important to have it to protect your investments from unforeseen circumstances like fire, theft, burglary, vandalism, electrical surges, and much more. Also, lenders may require it before financing your condo. Here is a list of the coverage options to help you make an informed decision:

• Liability Coverage: This covers any financial liability claims against you. It includes both bodily injury liability and property liability towards a third party. It can settle compensations, medical bills, and court expenses.
• Loss of Use Coverage: When a covered loss renders your condo uninhabitable, you will have to get temporary residence while it's repaired or replaced. This coverage takes care of any additional living expenses that you may incur for that short period.
• Personal Property Coverage: This will cover your personal property in the condo unit in case a covered loss destroys or damages them. Make sure you have enough coverage to protect all your valuable items in full.

As much as condo insurance protects you from several perils, it doesn't protect you from floods, earthquakes, and hurricanes. You will need a separate coverage for such risks. Since condos are highly valuable in Texas, the best way to protect such an investment is taking insurance. Finding the help of a local agent at Mpire Houston Insurance will help you determine what coverage option suits you the best. At Mpire Houston Insurance, we offer reliable condo insurance policies. Contact us today to get a quote and secure your financial future.