Housing is very expensive in California. It is often easier to break into the housing market with a condo. This makes condos a popular housing choice in Pleasanton as well as everywhere else. At Miao Insurance Services in Pleasanton, CA, we are independent agents, which means we can provide more choices when it comes to carriers. Since we are locally owned and operated, we understand the local market and what condo insurance is required. 

When it comes to condo insurance, you are not mandated by the state to carry this coverage. However, that doesn’t mean you don’t have to have it. Your lender, if you have a mortgage, and your HOA may require that you have condo insurance. Given the fact that you share walls with neighbors, it is not surprising that the HOA would want to make sure that your home is protected. 

With a condo, the Association has insurance to cover the exterior of the condos and the shared areas. This can include the parking lot, hallways, elevators, and pool area. They carry the liability as well as property insurance. Not all condo insurance is the same, since it depends on the master policy and how far it goes into the individual units. 

Read your master policy coverage and make sure your insurance agent is also aware of the policy to make sure that you get the right coverage. Much like home insurance, condo insurance usually has four parts; property, content, liability, and loss of us. All of them need to be considered to make sure you have adequate coverage. 

In particular, make sure you have loss of use coverage to provide for you in the event that your unit becomes uninhabitable. You will need a place to stay and having insurance means you won’t have to pay for it. 

Contact Miao Insurance Services in Pleasanton, CA for condo insurance. 

Pleasanton, CA is one of the best places to live in the U.S. If you are lucky enough to live here, you are in one of America’s wealthiest cities. The housing prices are high, and one way to break into the housing market is with a condo. For most people, their home will be the largest investment they ever make, and protecting that investment means having the best condo insurance you can afford. At Miao Insurance Services, we are locally owned and operated, and we work hard to find our customers the most affordable and reliable condo coverage. 

You may think owning a home, whether freestanding or a condo, is pretty much the same thing, and therefore, the insurance would also be the same. While condo insurance does have some of the same coverage as home insurance, it is different in the amount and the things covered. 

When you own a condo, you own the interior of your unit. The exterior and communal areas belong to the Condominium Association. These are covered by a master policy maintained by the association. It is paid for through the HOA dues all the owners pay. Every condo owner must read the master policy to understand where your responsibility begins. 

You don’t need to cover the exterior of the building. Therefore, the amount of building coverage will be much lower on a condo policy. It is walls in coverage, so built-ins and the fixtures are what is covered. Contents coverage and liability insurance will be dependent on what you have in your unit and how much you are worth. Loss of use is another coverage you should have on your condo policy. 

When you are in the market for condo insurance at Miao Insurance Services in Pleasanton, CA, we are here to help.