How to Determine Insurance Coverage for Your Condo

Most condos come with a Master Insurance policy that protects the exterior of the building and common areas. To protect the interior of your unit and personal effects and cover liability risks, you’ll need to buy individual condo insurance. With the help of a TCU Agency agent, you can determine what kind of condo insurance coverage you need. An individual condo insurance policy will provide you with such basic protection as:

Interior Coverage

Individual condo insurance (aka HO6 insurance) will protect your unit’s walls, ceilings, light fixtures and floors against damage from fire, inclement weather, vandalism, and smoke. You never know when a catastrophe will strike, causing major damage to the interior of your Tuscaloosa AL condo. With condo insurance, you don’t have to worry about paying for repairs on your own.

Coverage for Personal Property

Personal property/condo contents coverage protects your personal effects to include furniture, clothing, jewelry, appliances, electronics, artwork and more. By making an inventory of your belongings, you can be prepared for making a claim when the time comes.

When insuring your personal goods, consider getting replacement cost coverage as opposed to cash value. With replacement cost coverage, your insurer will pay the cost of replacing your goods if they are stolen or lost. Pricey items such as costly jewelry, antiques or artwork may need an endorsement to cover their replacement cost.

Liability Coverage

Liability insurance protects you if a visitor has an accident on your property. If a friend cuts his hand while helping you cook or slips and falls in the hall, your liability coverage will pay for his medical care. Liability coverage also pays for damages you may cause to your neighbor’s condo, whether by accident or through neglect.

To learn more about condo insurance coverage and costs, contact us at TCU Agency, Tuscaloosa, AL.

What are the Advantages of Term Life Insurance?

Having a quality life insurance policy is very important for people that are in the Tuscaloosa, AL area. When you were looking at all of your different life insurance options, choosing a term life insurance policy could be very beneficial. There are several advantages of term life insurance policies that you should keep in mind when you are looking for your next life insurance policy.

More Affordable
One of the main advantages of term life insurance is that it is a far more affordable option than whole life insurance. When you get a term life policy, you will not accrue any cash value, but your monthly premiums for the amount of coverage that you receive will be significantly lower. This can result in a great level of coverage for a fraction of the price that you would pay if you had a whole life policy.

Flexible Terms
Another advantage of getting a term life insurance policy is that it will have very flexible term lengths. The term for a term life insurance policy typically will vary anywhere from 5 to 30 years in length. Generally speaking, the longer the term you choose, the more expensive the monthly premiums will be. This will allow you to build your own flexible and personalized policy based on your coverage period needs and will also allow you to save money by not trying to insure a period of your life that you do not need coverage for.

If you are in the Tuscaloosa, AL area and are in need of term life insurance, you should reach out to the TCU Agency.  When you meet with the TCU Agency, the company will be able to better explain your life insurance needs and help you choose a policy an option that is ideal for your situation.