Condominium owners often fall into the mistaken belief that their Condo Owners’ Association policy will provide the coverage that they need for their own unit. The team at TCU Agency can help you find the right policy for your needs as your COA policy will not protect your individual condo in the Tuscaloosa, AL area.
COA policies are geared toward the protection of the building itself and the common areas that are available to all residents. It is important to have your own condo insurance policy in order to protect yourself from:
- Water damage
- Liability if an injury occurs in your unit
- A fire that begins in your own unit
- Damage within your unit that is caused by your neighbor or nature
This is just the beginning of the types of situations where your home and property could sustain damage that would not be covered by the COA insurance policy. An easy rule of thumb is to consider everything within your unit as your own responsibility. For example, if there is a leak in a unit above you that causes damages to your unit, you will likely be held responsible for the repair and replacement of any damaged items.
While these may sound unfair because the damage was caused through no fault of your own, it is just the way that things work. In order to gain the peace of mind that you need to rest easy, it is advisable to obtain your own condo insurance policy at the appropriate level to protect your unit and all of your belongings.
Contact the knowledgeable team of professional agents at the TCU Agency today to schedule a consultation to review the condo insurance options in the greater Tuscaloosa, AL area!