Who
pays for damages to your possessions?
Answer:
You Do
As an owner of
a condominium unit, you are also a member of your
condo association. As you are probably aware,
the association carries insurance on the basic
structures and property. Chances are, though,
association insurance does not cover teh interior
of your unit.
If your building
was damaged in most states, you'd find that everything
from the framing in - including wall finishings,
appliances and fixtures, household goods, purhaps
even the plumbing and heating - is your responsibility.
And without an individual Condo Unit Owners Policy,
such a loss would leave you with a rather empty
feeling.
Misfortune can
strike anyone - anywhere. For example:
- Could you cover extra living
expenses (such as a hotel) if a fire forced
you into temporary quarters?
- Are you covered if someone
burglarized your unit?
- Are you protected if a visitor
was accidentally hurt in your home, or if a
family member caused damage to someone else's
property?
- Could you provide medical
care payments for injury to others - even if
you're not legally liable?
You can protect yourself against
such losses with one special package of insurance
- American Business Insurance's Condominium Unit
Owners Insurance. This valuable protection can
close dangerous gaps in coverage and trim costly
overlaps.
American Business Insurance's
Condo Policy includes this protection:
Your Personal Property
- Furniture, clothing and personal possesions
are covered against loss due to fire, theft, lightning,
windstorm, explosion, vandalism and a variety
of other hazards.
Building Additions and
Alterations - The built-in improvements
and alterations you've made to your condominium
(e.g. bookshelves) are covered.
Personal Liability Insurance
- (Non-car, non-business liability).
Legal Liability covers your legal responsibility
for accidental bodily injury or death, or property
damage to others - on your premis or elsewhere
- caused by you, a member of your family, or your
pets. Even if your not legally liable, the legal
costs of your defense are covered.
Medical Payments:
Regardless of legal liability your
policy from American Business Insurance will pay
actual medical expenses for accidental bodily
injury (to person other than residents of your
household) caused by you, a member of your family,
or your pets - on your premise or elsewhere.
Physical Damage to Property
of Others - If you or a family member
cause damage, you're covered up to $1,000 on most
of our policies, regardless of legal liability.
Additional Living Expense
- American Business Insurance's Condo Policy covers
the greater-than-normal cost of living you face
when a covered disaster forces you to live in
temporary quarters while your home is being repaired
or rebuilt.
Click
Here for a Quote
Check
out these other valuable personal coverages that
we offer!
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