What Riders Can You Add to Condo Insurance?

You start with a standard policy when you purchase a condo insurance policy from AS Insurance Agency to protect your investment in your Manchester, NH, condo. Working with your insurance agent, you can add riders to your to add scheduled items, such as engagement rings or hobbyist equipment.

Scheduling an Item 

You choose the riders or scheduled items to add to your basic condo policy. When you schedule an item in a condo policy, you specifically list that item, describing it in detail and including its value. You can add jewelry, business equipment, hobby equipment, books, stereo components, etc.

How It Affects Premiums 

When you add items to the policy, the premium cost is affected. Each scheduled item or rider increases the premium slightly. If you add a lot of scheduled items, the cost of the policy increases.

Advantages Derived from Riders 

While they might cost a bit per item, a rider is worth it if your condo gets damaged or someone steals your belongings. Normally, a condo policy works like other home insurance policies, covering personal belongings with a percentage of the condo’s value.

If you purchase a condo for $100,000, a typical policy includes coverage of between one and 10 percent of that value as personal belongings. You probably own more than $1,000 or even $10,000 worth of clothing, electronics, kitchen and other housewares, furniture, etc. When you schedule an item, you insure it for its full value. Whether a peril damages your items or a thief steals them, you receive the full value of the item so that you can buy a replacement.

Contact AS Insurance Agency Today

Let AS Insurance Agency help you customize your policy to cover your valuables completely in your Manchester, NH, condo. Contact us today to create your custom condo insurance. 

Condo Insurance and Time Shares

It can be tough getting insurance on a time-share condominium. For one thing, they get a lot more visitors than the typical vacation home. You’re sharing this condo with several other people, so determining who is responsible for what can get difficult. However, if you keep organized with a clear mind, you can manage through this and get back to enjoying your vacation. 

How To Do It

 You may already be covered. Go over your timeshare agreement. Read it all down to the fine print. See what kind of coverage you already have. If you have a deeded timeshare, that means it’s your legal property with all rights and responsibilities. That includes getting property and liability insurance. If you rent it out, you will need a commercial landlord policy. 

Other Considerations 

Keep in mind that due to the fact that the facility is commercial and not completely owned by you, the standard homeowner’s insurance policy generally will not provide adequate coverage. Check on how much you covered in the event of theft. Your liability insurance may cover accidental damage to someone else’s property. In any case, your home insurance agent should be able to explain your coverage to you. 

Umbrella Insurance

That’s a lot of things to cover, isn’t it? You may want to consider umbrella insurance for your timeshare condo. It offers more liability coverage at a lesser cost than the increasing liability limits of your underlying policy. 

AS Insurance Agency serving Manchester, NH

If you are looking for insurance coverage for your property in the Manchester, NH area, consider contacting the AS Insurance Company. We are dedicated to providing fair compensation for your property. 

What Does Condo Insurance Cover in New Hampshire?

Owning a condo can be a great housing option if you are in the Manchester, NH area. When you are looking to buy a condo, you need to get the right insurance for it too. A quality insurance plan in this area of New Hampshire offers various forms of coverage and support that can make it a great investment. 

Why Condo Insurance?

Dwelling

One of the forms of coverage that you will receive with a condo plan is protection for your dwelling. Your condo is a major asset that you will want to ensure is protected. If you have condo coverage, it will provide support if you incur losses due to a fire, vandalism, or other situation that requires repairs or replacement. 

Personal Assets

You also can receive coverage for any personal assets that you keep in the condo. Your personal assets can include furniture, kitchenware, electronics, and other items. Having coverage will ensure you have support to replace these assets if you incur a loss. If you have valuables, such as jewelry or expensive art, you can get additional riders to your policy. 

Liability Coverage

With a condo plan, you will also get liability insurance. If there is an accident in your condo, you could be held liable for damages. Fortunately, you are able to mitigate this risk if you invest in a condo insurance plan. This insurance will provide liability support, which is helpful in some difficult situations. 

Give Us A Call

If you are in the Manchester, NH area, it would be a good idea to get condo insurance. When you are looking for this coverage, you can call the team with the AS Insurance Agency. The AS Insurance Agency will evaluate your options and requirements to help you build an ideal policy that will give you the coverage you want. 

How Does Condo Insurance Differ From Home Insurance?

If you have purchased a condo, or you are planning on purchasing a condo, you may be looking into purchasing home insurance for that condo. You will quickly find that home insurance for condos does not exist, and instead, you will need to purchase condo insurance, an insurance product specifically designed for condo owners. Here at AS Insurance Agency, serving the greater Manchester, NH region, we are often asked what the difference between home insurance and condo insurance is. 

Differences Between Condo Insurance and Home Insurance

The biggest difference between home insurance and condo insurance is the exterior of the building. When you own a home, you are responsible for all of the building, including the exterior of the home. This is not the case with a condo. When you buy a condo, you only need to insure the space in your unit. As such, things like the exterior of the condo building, roof, and common areas are not included in condo insurance, whereas they are included with home insurance. 

Similarities Between Condo Insurance and Home Insurance  

Aside from the exterior of the building, home insurance, and condo insurance are very common. Your belongings are insured under both policies, damage caused by unexpected events is covered under both policies, and lenders require you to purchase the right policy type if you have a loan out for the property. 

If you are in the process of buying a condo or have recently closed on a condo, you may be looking to purchase condo insurance. Here at AS Insurance Agency in Manchester, NH, we can help you get the insurance you need. Reach out to us today to obtain an estimate for condo insurance or to purchase a new policy. 

Important Details Regarding Condo Insurance Policies

AS Insurance Agency is an independent agency. We help Manchester, NH residents find the coverage they need to protect their assets. We offer flexible policies so that our clients are covered in any situation. Working with multiple carriers in the region allows us to adapt to the daily challenges that people face on a regular basis. Providing excellent customer service is a priority.

Important Details Regarding Condo Insurance Policies

If you are staying in a Manchester, NH condo, look over your policy carefully. Condo insurance generally any damage to your personal items. You are also covered if your possessions are vandalized or stolen. It’s recommended that you take inventory once you move into the condo. This can help the process run smoothly if something happens to your possessions. If you have any luxury items inside the condo, you’ll need to amend your policy in order to fully cover those items if something happens to them.

You aren’t responsible for the exterior of the unit; however, condo insurance will protect you if any interior damage happens to the unit.  The policy covers any damage to the walls or flooring. If you plan to make any upgrades to the unit, be sure to amend your policy similarly to your luxury possessions. Liability coverage is a significant part of your policy as well. Perhaps you plan to invite some friends and family over to your condo for a fun party. Liability coverage protects you if one of your guests gets injured at the party. You’re also covered if you accidentally damage your neighbor’s unit. Perhaps you’re having a plumbing issue that leaks over into your neighbor’s unit or an accidental fire spreads.

AS Insurance Agency Will Help You Protect Your Assets

Visit our website to learn more information about condo insurance.

What You Need to Know About Condo Insurance

Unlike the standard homeowners’ insurance that offers straightforward terms, getting a condo policy will require you to consider what your Master Policy covers in addition to your unit cover. This can cause difficulties for Manchester, NH residents, resulting in numerous policy seekers abandoning their condo coverage altogether. Below, AS Insurance Agency helps you break down what a condo policy is all about.

Your Condo Insurance Is Different From Your Master’s Policy

Your condominium’s Master Policy is designed to protect the exterior of your condo and not the interior. This means that it will cover areas such as the lobby, exterior walls, swimming pools, and amenities such as the gym. To protect items inside your unit, you will be required to get your condo policy. An individual condo cover will ensure that assets such as clothing and fixtures are protected when covered perils occur in your unit.

Condo Insurance Comes With Multiple Policies

Condo insurance is composed of various types of covers, with an example of this being liability coverage. This pays for legal expenses, medical bills, and property damage when someone is injured inside your condo or their property gets destroyed. Others such as content coverage will protect your personal belongings from risks such as theft and fires, while building property coverage protects interiors such as walls, cabinets, and fixtures from damage. With these differences in mind, make it a point to understand each coverage type to ensure you pick the suitable option for your needs.

Condo Insurance Has Its Exclusions

While condo policies cover significant damage to your condo, it also has its limits. Damages arising from flooding and mold damage will often not be covered along with intentional acts of harm to 3rd parties. Before signing up for your policy, the research covered perils in your condo insurance to help you stay informed of what to expect when emergencies arise.

If in need of condo insurance within Manchester, NH, call AS Insurance Agency today for customized policies.

Why should I get condo insurance in Manchester?

Owning a property in Manchester, NH has been a great idea and investment for a long time. Those that would like to purchase a home here will have plenty of options. One option to consider is to purchase a condo, which offers a variety of advantages compared to other forms of homes. If you would like to buy a condo here, you also need to get insurance for it. There are a few reasons that you should get a condo insurance plan.

Insurance is Required

A common reason that people here need condo insurance is that it is normally required. If you buy a condo, you will have to meet the condo insurance standards set by mortgage lenders and condo associations. If you do not maintain this coverage, you could be penalized while also not properly protected.

Insurance is Needed to Protect Owners

You will also need to get condo insurance as it can protect the owners of the condo. When you get condo insurance, it will offer you protection for the dwelling and your personal assets. Additionally, a full policy will include a liability provision that could be helpful in many situations. Ultimately, this protection is valuable and will give peace of mind. 

For those who would like to get a condo or new insurance plan in the Manchester, NH area, calling the AS Insurance Agency team is a good option. Anyone that inquires about a condo insurance plan may find that there are a lot of options and decisions to make. Fortunately, this can be made much easier if you speak with AS Insurance Agency. The team here can answer any of your questions and ensure you stay properly covered.