Condo Insurance in Ohio

You may think that your condominium is covered by your homeowner’s association fees and there is, thus, no need to obtain an indemnity policy in Ohio. Your thoughts could not be further from the truth.

Your homeowner’s association fees only cover the grounds of the facility. You are responsible for protecting the assets inside of your home. In some instances, you are also responsible for plumbing and other components within the walls of your condo. The amount of condominium insurance you need in Ohio heavily depends on the type of assurance your homeowner’s association offers in your contract.

Read on to learn about condominium insurance. Contact a representative from Associated Insurance Agencies, Inc. in Westerville, OH or one of the other 6 locations in the state for more information!

Types of Insurance

The assurance presented in your homeowner’s association contract usually breaks down in two categories:

• An “All-In” Condo Master Policy
• A “Bare Walls-In” Condo Master Policy

An “all-in” master policy is also recognized as a “single-unit” plan. This type of coverage pays when your appliances, wiring, plumbing, and other components go awry. You can depend on an “all-in” plan to cover you when the washing machine and dryer go out. Equally so, an “all-in” policy may pay when the electrical system fails due to worn wiring.

You may want to purchase an “all-in” policy when you are not certain as to how much your homeowner’s association covers regarding plumbing and other components within your condo’s walls. A bare “wall-in” plan may be ideal if you only need insurance that covers your possessions.

A bare “wall-in” policy is much cheaper than its “all-in” counterpart but does not pay for plumbing problems as well as wiring. You may be paying out of pocket if a pipe bursts while having a bare “wall-in” policy and the association refuses to pick up the tab.

Call A Professional

It is always a smart idea to speak with a professional insurance agent before obtaining condo insurance in Ohio. Contact a representative from Associated Insurance Agencies, Inc. in Westerville, OH or one of our 6 locations today to get started with a quote for your home!