New Article Answers Questions about Condominium Master Insurance and Condo Insurance

InsuranceAgents.com publishes article which discusses the impact of condominium master insurance on condo insurance and insurance quotes. End Quote

The article names two general condominium master insurance policies.

Chicago, IL (1888PressRelease) December 07, 2009 - What does a condominium master insurance cover? What doesn’t it cover? Does it cover my personal possessions? These are all important questions that InsuranceAgents.com has answered in a recent article published on their Web site. Understanding condominium master insurance will help condo owners and renters purchase a more accurate and appropriate individual condo insurance policy.

The first thing to understand about condo insurance is the majority of condominium master insurance policies only provide coverage for public parts of the complex.

According to the article on InsuranceAgents.com, “Typically, owners of individual condo units share ownership of the rest of the complex, outside their own four walls, with the other owners. That means that responsibility of such publicly shared areas as hallways, the building exterior, and the pool area of the condo are shared collectively and usually funded by monthly dues.”

The article names two general condominium master insurance policies. The policy your complex is covered by will be important when picking a policy that covers you and your belongings.

The bare walls-in condominium master insurance policy requires the individual to invest in greater coverage. This master policy only covers the property contained within the exterior framing, not including any installations or fixtures within the unit. The all-in master policy doesn’t require as much individual coverage because this policy covers all fixtures, additions, and installations contained within each individual unit.

No matter what condominium master policy your owner or landlord has, be sure it will not cover your personal belongings. However, it is important to know the details of the master policy so you know whether or not you will be responsible for replacing any fixtures, add-ons, or installations within the condo that may be damaged or destroyed.

To learn more about condominium master insurance visit InsuranceAgents.com today.

http://www.insuranceagents.com/condominium-master.html

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