Maybe you have recently purchased a condo in New Jersey. If so, you most likely have a monthly obligation to pay the Master HOA insurance policy for the properties that you share with other condo owners. While that will give you some community coverage, it will not protect you or the property in the unit. This is where you need an individual condo insurance policy from Retcho Agency.
If you have a mortgage on your condo, the lender will require you to carry your own condo insurance policy to protect the property until the loan is paid. Even if you have a condo that you own outright, you should still consider having condo insurance.
Like home insurance, the condo insurance policy is meant to protect your personal property. While you do not have lawn space, you own everything in the unit and any secluded patio space you may have.
Should your condo be damaged in a theft or vandalism event, your comprehensive coverage will help you repair damages and replace missing items.
This policy protects any walls that you do not share with another unit. This also includes all the personal items you have inside in the event of an accident or natural disaster that is covered.
If you have children, pets, or like to entertain in general, it is vital to have a policy that will give you a financial cushion in the event of a lawsuit. If you are found responsible for property damage and medical expenses, you can use this portion of the policy to cover these costs.
If you live in the Closter, NJ area or nearby, it is time to reach out to Retcho Agency today. One of our agents is ready to assist you with your personal quote.