Renters / Condo Owners

Condo Owners Insurance

Condo owners insurance offers protection against some unique risks, since your condominium corporation only insures your building, and not its contents or your personal belongings. It is important that you get the right condo insurance, which will protect you if disaster strikes.

  • All Perils coverage will offer protection to your personal belongings against almost all risks, excluding the perils listed in your policy.
  • Specified Perils coverage offers protection to your personal belongings against some of the most common risks listed in your policy, including fire and lightning, water back flow, smoke, rupture and freezing, falling objects, windstorm or hail, theft and vandalism.
  • Renovation coverage covers cost of improvements or upgrades to your condo unit, including better carpets, built-in cupboards, and high-end light fixtures. This coverage will also include any structure, building, or swimming pool installed on your premises and meant for exclusive use of your family.
  • The policy may also cover your additional living expenses if you are unable to live in your condo unit, which is considered unfit for use for as long as the repairs are being made following damage or loss. Further, if you rent out part of your condo and the tenant is forced to evacuate the property due to an insured loss, the policy will reimburse full rental value while repairs are being carried out.
  • The coverage will protect you against any accidental damage to somebody else’s property or physical injury inside your condo. This also includes liability coverage cost.

Renters Insurance

If you have rented out a home, condo, or apartment, you need renters insurance as coverage against any liability, losses or damage to your belongings. Since homeowners insurance policy does not cover damages to personal belongings inside the property belonging to the tenants, renters must buy an insurance policy to cover their items against any damage, loss due to a natural disaster or vandalism and theft.

Renters insurance is important to protect you against suits with liability protection, medical expenses, and litigation cost. If somebody is injured in your rented home not due to any problem with the original structure of the property, you can be held liable. In that case, a renter’s insurance policy will protect you from any ensuing litigation. Have all your belongings covered under a renters insurance policy and enjoy peace of mind!

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Aaron J. Farmer Insurance Agency, Inc.
7960 Silverton Ave. Ste. 202 San Diego, CA 92126
858-225-1007
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