The need for condo insurance in Knoxville TN
As the owner, you are responsible for your personal unit and fixtures such as appliances, cabinets, and lighting. The kind of HOA master policy coverage you have will determine whether you need a separate policy or not. If the HOA has the “all-in” coverage, then this means that the policy will cover items such as lighting, cabinetry, fixtures, plumbing and wiring in your individual unit. However, if the master policy is a “bare walls” cover, then the owner will need a separate condo insurance policy.Theft of personal belongings
The HOA policy does not offer compensation for personal belongings such as clothing, computers and other personal gadgets. Personal condo insurance in Knoxville TN provides a cover for personal items that are stolen in your home.
Injury of a guest in your house
If a visitor falls or trips inside your unit or in staircases in your unit, the personal condo insurance will cover the medical bills and any other liability costs (up to the limits of the policy). The same applies in the event of a fire in your unit. The insurance for condo owners may also provide coverage for housing expenses.
Factors that may affect Knoxville condo insurance quotes
There are several factors that may affect the premium rates offered by different providers, among them:
• Condo construction materials
• Deductible amount
• The limit on your HOA master policy
• Coverage options
When searching for insurance for condo owners, it is important to remember that there are certain things that are not covered. Condo insurance in Knoxville TN policies will often exclude things like earthquakes, floods, nuclear hazards, intentional hazards, wear and tear and damage from underground sewers. Be sure to discuss the specifics of your policy with one of our team members.
There are many insurance companies out there that offer condo insurance. To get the best deals in the market, you need to take the time to compare Knoxville condo insurance quotes. For the best possible deal we recommend working with an independent insurance agency like ours.