If you own a condo in Pennsylvania, The Tyson Agency in Northeastern, PA offers great condo insurance policies to protect your investment. Since the common areas such as hallways and exterior walls are shared in a condo setup, condo insurance is different from the usual homeowner’s insurance. A master policy covers these common areas and is taken by the association of condo owners.

Types of coverage

There are three types of coverage for condo insurance in Pennsylvania, and what you choose will depend on what the master policy covers:

• The primary building and all common areas
• Your unit and any items in it apart from your personal belongings
• The primary building, your unit, and fixtures

It is essential to determine exactly what the master policy covers before you choose what condo insurance policy suits your situation.

What the Condo Insurance covers

Condo insurance covers various risks depending on the coverage option you choose. It protects your personal property and the upgrades you have made in your condo, it protects you and your family against bodily injury, and it also caters for medical bills when someone gets injured in your condo. A full value personal property coverage ensures that you get reimbursed the full replacement value of your personal property without regard for depreciation in case of loss or damage.

The Master Policy Deductible

The master policy usually has a deductible that is charged among unit members either monthly or annually. Ensure you know what you are obligated to contribute since this will come in handy in the event of a claim. It is a financial commitment you cannot choose to ignore.

Additional Coverage

There are additional coverage options available for a condo owner in Pennsylvania. Like any other homeowner, you may need to protect valuable items in your house such as cash, art, and jewelry. Other coverage options for your condominium at The Tyson Agency include personal liability, flood insurance, and cash value or replacement coverage.

The Tyson Agency in Northeastern, PA has a team of professionals that will help you choose a condo insurance coverage that suits your needs. Contact us today to get your free quote. Visit our offices or call us today.