If you live in the Charlotte or Waxhaw, NC area, being a homeowner is a good choice and housing option. One great housing ownership option is to purchase a condo, which comes with various amenities and advantages compared to owning a single-family home. If you do purchase a condo, it is important that you get proper insurance for it. There are various reasons why having condo insurance should be considered a necessity.
Condo Insurance: What You Need To Know
Association Requirement
One of the reasons that you will need to have a condo coverage plan is to comply with rules set by your association. The vast majority of condo owners will sign condo association documents that outline all rules and requirements. One very common provision is for all condo owners in the community to get a condo insurance plan. This coverage will ensure you have support to repair your condo and that you have liability coverage.
Mortgage Lender Requirement
Beyond having condo insurance to comply with association rules, you will also want to have coverage to meet standards set by your mortgage lender. If you have taken out a mortgage, your lender will require that you carry insurance on your condo. This typically includes having specific condo insurance standards that need to be met. With a condo insurance policy, you will meet these requirements and stay in good standing.
Contact Us Today
Owning a condo in the Charlotte or Waxhaw, NC area is a good investment. If you are looking for a new plan in this area, it would be a good idea to start your search by calling Hausmann Insurance & Financial Services. There are a lot of choices to make when looking for condo coverage and Hausmann Insurance & Financial Services can ensure you have the appropriate support in place at all times.
