When you’re moving into a new place, understanding what kind of coverage you need is paramount to ensure that you protect your property and avoid any issues with your current policy. For example, let’s imagine that you’ve moved into a new condo. You might be asking, what type of insurance do you need? Since the whole building itself is likely covered, would condo insurance apply? Will you need renters insurance just to protect your property? It can get quite confusing when a condo enters the mix. Here’s what you need to know about whether you need condo insurance or renters insurance. When you figure out what it is you need for your situation, the team here at MTC Insurance Agency Group in University Place, WA will help you find the best policy.
Do I need condo insurance or renter’s insurance? What’s the Difference?
Condo Insurance is a specific type of insurance that covers condominiums. Renters insurance is a type of insurance policy designed to cover any property you’re currently renting. Determining what type of insurance you will require is straightforward, depending on ownership. If you purchased and own your condo (even if someone else owns the building in which it’s located), you’ll need condo insurance to cover your unit and all the belongings inside. If you’re renting out a condo, you’ll need renters insurance to protect your belongings and to defend yourself against personal liability.
Find Condo Insurance Here at MTC Insurance Agency Group
If you’re a new condo owner looking to insure your property, we’d be more than happy to help. MTC Insurance Agency Group in University Place, WA, is always ready to help you compare quotes and find the best policy for your needs. Contact us today to get started!
