Are You Required To Have Condo Insurance?

Condo rental is a great housing option that allows you a tremendous amount of freedom. There are some responsibilities, though, that come along with condo rental or ownership. Here at High Favor Insurance, serving Birmingham, MI, and the surrounding areas, we want to assist you with insurance questions, including questions about condo insurance. Keep reading to learn more.

Am I Required To Have Condo Insurance?

Condo insurance is a type of insurance product you can purchase if you rent or own a condo. It is not required that you hold this type of coverage, though. 

Is It A Good Idea To Have Condo Insurance?

Yes, condo insurance is an excellent idea. This type of coverage will provide financial protection if your personal belongings are damaged in the condo. This type of damage could result from a natural disaster, fire, or burglary.

What Happens Without Condo Insurance?

If you choose not to carry condo insurance and your personal belongings are damaged or lost, you will be required to pay out of pocket for the replacement or repair of your items. This might prove to be a financial hardship for you and your family if you don’t have the cash on hand for such expenses. Condo insurance provides you with added peace of mind in these situations so that you know that no matter what happens, you will be able to provide yourself and your family with what you need.

If you would like to learn more about condo insurance or any of our other insurance products, don’t hesitate to contact us today at High Favor Insurance serving Birmingham, MI, and the surrounding areas. We will happily answer your questions and help you find the right insurance products for your needs.