Condo Insurance in Rhode Island
With more property owners requiring condo owners to carry some insurance, condo insurance is gaining recognition as an essential coverage option in Rhode Island. Kingston Insurance Agency LLC in South Kingstown, RI can outline essential condo insurance options for your needs. Our team can explain the purpose of each policy and help you get a quote.
Dwelling coverage offers protection for fixed structures within your unit when you experience damage from hazards such as fires, theft, electrical faults, and vandalism. If your floors, walls, and structures such as sinks and cabinetry need fixing, dwelling coverage will reimburse you for expenses related to their repairs or replacement.
Personal Liability Coverage
If your guests get harmed while visiting your premises, you are legally responsible for their injuries. Personal liability coverage offers protection during such an occurrence, ensuring that the costs of bodily injury harm are covered. In addition to this, property damage to other parties’ possessions will also be covered as well as legal fees when you are sued.
Personal Property Coverage
Personal property coverage protects personal belongings in your condo when they are destroyed during incidents involving fire outbreaks, theft, and vandalism. This policy will provide compensation for repairs and replace items such as clothing, electrical appliances, and furniture.
Loss of Use Coverage
Perils such as fires may occasionally render your condo uninhabitable, resulting in the use of extra accommodation. Loss of use coverage caters to the costs of relocation until your condo becomes habitable. Some expenses you can expect to be covered include hotel costs, meal expenses, and travel costs.
Loss Assessment Coverage
If common areas and the exteriors of your condo get damaged, your property owner’s master’s policy will be required to cover repair and replacement costs. However, the master’s policy can get exhausted, requiring condo owners to help offset the balance. Loss assessment coverage covers you for your share of expenses, ensuring you do not suffer any financial setbacks.
If you are looking for condo insurance within Rhode Island, consider reaching out to Kingston Insurance Agency LLC in South Kingstown, RI. Our policies are designed to offer protection to condo owners all year round.