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Capretta Insurance Agency

5689 Pearl Road
Parma, OH 44129

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Ohio Condo insurance coverage

Condo Insurance in Ohio

Condo insurance is the type of coverage that protects a condo owner or renter, their personal belongings, and the unit itself. If you have a condo in Ohio and you want to secure your dwelling, condo insurance is what you need to get. However, before purchasing a specific policy, Capretta Insurance Agency, serving Parma, OH, has prepared the list of things you should know about this type of coverage:

  • Most mortgage lenders require owners to have condo insurance before the purchase is approved. Therefore, if you are currently looking for a condo to buy, you should contact an insurance company to get the process started.
  • The cost of condo insurance depends on numerous factors, including the amount of coverage, the deductible (the amount you will have to pay out of pocket), any applicable charges and discounts, and the policy's price itself. It is important to know that a lower deductible means higher premiums.
  • Standard condo insurance covers all the property inside the unit, including electronics, furniture, and clothing. It can also include such installed items as flooring, fixtures, and interior walls. Keep in mind that a standard policy has limits on certain valuable items, including fine art, jewelry, and antiques. In order to provide additional coverage for these precious possessions, you may have to get an endorsement.
  • Condo insurance does not cover damages caused by floods, earthquakes, and sinkholes. It also will not cover basic maintenance repairs.

If you live in Ohio, choosing condo insurance is vital to have peace of mind and enjoy the perks of condo ownership. It gives you the necessary protection against the financial losses related to unforeseen events. If you are a resident of Parma, OH, or any other surrounding town and you are looking for a proper policy, Capretta Insurance Agency is ready to assist you and find perfect coverage based on your needs and budget. Do not hesitate to give us a call to talk to one of the agency's experienced agents.


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