Condo Insurance in Washington

Condo owners often have some confusion about condo insurance policies. When you purchase a home in Washington, you retain homeowner insurance to protect your house and structures on the property. This is generally required by the mortgage lender. When you rent, renters insurance allows you to repair or replace your personal possessions if they are damaged or destroyed in a disaster. Condos, in most people’s minds, fall somewhere in between a house and an apartment. They need the right amount of insurance coverage, too. The team at Western Insurance Associates understands the unique relationships owners have with their condos. In the Spokane, WA area, they will work with you to get you the right coverage for your situation.

Every condo association has some type of master policy in place. Generally, their policies will protect the physical structure of the building and grounds, as well as, the common areas with their furniture and fixtures. Every condo association has different types and amounts of coverage. They also have the potential to adjust their policies from time to time so it's important that you understand what they carry. For instance, there are two types of policies used by associations – “walls out” and “walls in”. A “walls out” policy will cover everything outside of your unit. This means that fixtures in your unit are not covered. A “walls in” policy will cover some of the interior fixtures but will not cover any upgrades you’ve made. Their policy won’t cover any of your personal possessions such as clothing, furniture or electronics.

Getting the right type and amount of coverage for your Washington condo is important. With the information from your condo association about their master policy, the agents at Western Insurance Associates can help you get the right coverage. When an event happens, you don’t want to find out that you have gaps in coverage. In the Spokane, WA area, they are ready to help so call them today!