Between your belongings and the townhouse in which you house them youhave the most valuable assets. It standsto reason that youd want to insure both to protect yourself financiallyagainst…
Between your belongings and the townhouse in which you house them youhave the most valuable assets. It standsto reason that youd want to insure both to protect yourself financiallyagainst any possible future damages. Here are some tips on how to get cheap townhouse insurance while keepingin mind you will be paying for two policies:
1. The Master Policy – Checkwith your townhouse association to see if they have a master policy ornot. If they do, find out what itcovers. Usually they cover yourbuildings main structure (floors, walls, and ceilings) as well as common areas(basements, elevators, storage areas, and basements).
2. Your Personal Policy – Over and above the associations masterpolicy you should have your own policy to cover those things not included inthe master policy. These can run fromyour appliances and carpets to plumbing, electrical wiring, and fixtures. You will find that a personal condo policywill also include the following:
Personal contents coverage – covers things such as computers, clothing, kitchen items, small and large appliances, linens, furniture, jewelry, tools, sporting equipment, books, CDs, DVDs, furs, and so on. You may need to take out another policy for collectibles, jewelry, art, and furs if yours are worth more than the maximum included in the policy for these items (usually $1000 – $3000 total.)Assets coverage this includes personal liability insurance in the event you are sued for damages due to an injury on your property. It is a good idea to have this as it will cover you for court costs, attorney fees, settlement amounts, and/or medical costs. A standard policy will include $100,000 to $300,000 in coverage but if you think you might need more or you want to be sure that youre totally protected then you can pay more to have higher coverage.Living expenses in the event your townhouse is damaged to the point you cant live in it your insurance will pay for alternative accommodations and a living allowance for the duration you cant stay in your home up to a certain amount per day or in total.
Inexpensive Townhouse Insurance
If youre new to townhouse insurance or have never compared policies youmay be surprised at how much variance you can find in the cost ofcoverage. The best thing to do with anyinsurance search, and townhouse insurance is no exception, is to comparecosts. You can do this quickly andeasily by consulting an insurance comparison site online. Youll have access to multiple quotes from avariety of insurers. The more quotes youobtain, the more youll be likely to find a good deal that meets all of yourneeds and fits well within your budget.