Investing in a condo means obtaining the right insurance policy for maximum protection. Owning a condo is a bit different than a home in Las Vegas, NV, which is why it’s important to work with an agency who can best meet your needs. At Leo Insurance Group, we’ll work with you to determine which insurance add-ons are recommended to protect and cover your condo year-round.
Personal Condo Insurance
Even with a master condo insurance policy, you’ll want a personal condo insurance (HO-6) policy to help fill in the gaps. In addition to a personal condo insurance policy, there are targeted insurance endorsements that are also suitable for condo owners.
Building Property Coverage
One add-on you’ll want to consider as a condo owner includes building property coverage. Building property coverage may also be referred to as "dwelling improvements." Adding an endorsement such as this can help cover upgrades in your unit, such as custom lighting, interior walls, flooring, and even newer cabinets.
Water Backup and Sewer Coverage
Another endorsement to consider if you’re the owner of a condo includes water backup and sewer coverage. Standard condo insurance does not pay for incidents involving plumbing lines and backed-up drains. If you believe your condo is at risk, it’s important to consider this endorsement. This endorsement will cover repairs, cleanups, and any damaged belongings you encounter as a result of water backups and sewer issues.
Knowing more about insurance add-ons as a condo owner or investor is crucial when living in or near Las Vegas, NV. At Leo Insurance Group, we’ll walk you through the steps of obtaining and maintaining proper protection so you can protect your assets at all times. To learn more about insurance add-ons that are right for your condo investment, contact us today.
