Condo Insurance in Georgia
When purchasing a condo, some lenders will require buyers to purchase condo insurance. If you're paying cash, it's up to you as to whether you obtain condo insurance, but you'd be ill-advised if you don't insure your unit. HeadSouth Insurance in Canton, GA is an independent insurance agency. One of our agents can help you obtain a customized policy of condo insurance covering your needs anywhere in Georgia.
What Does Georgia Condo Insurance Cover?
Your condominium association will have its own master policy of insurance covering the common elements of the development like parking lots, green areas, swimming pools, or gyms. It doesn't cover the inside of your condo though. What's covered by condo insurance is the interior four walls of your unit, any fixtures inside of it, and your personal property. For example, if the interior of your condo is damaged by fire, you're covered for that, including any clothing, furniture, or electronics that might be damaged or destroyed. If your unit is rendered uninhabitable from that fire, most condo insurance policies also cover certain additional living expenses that you incur. You're also covered for liability if somebody is accidentally injured inside of your condo.
Actual Cash Value or Replacement Cost
Standard condominium insurance covers the actual cash value of your personal property that is damaged by a covered loss. What comes to issue is that actual cash value contemplates depreciation. Our agents at HeadSouth Insurance recommend that you insure your possessions for their replacement cost so that you can replace damaged items with new items rather than replacing them from garage sales.
Contact Us for Your Georgia Condo Insurance
Make sure to let us know of any items that you have of special value like jewelry or artwork. You'll likely want special endorsements covering them. At HeadSouth Insurance in Canton, GA, we provide condo insurance that's tailor-fitted for your individual needs. Call us or visit us about insuring your condo anywhere in Georgia. We'll be happy to work with you.