If you’re moving into a condo in or near Jefferson City, MO soon, you may have some questions. One question that many people have is whether they need to purchase condo insurance. This can be a confusing topic, as it’s not always clear whether condo insurance is for renters or owners. Here is an overview that can help determine whether you need condo insurance. 

Condo Insurance is Typically for Owners

If you own your condo, then the HOA (homeowners association) fees include insurance for the exterior of your condo. However, to be covered for the interior, you must purchase condo insurance. Condo insurance covers everything inside the condo, so by buying a good policy, you can rest assured you’ll have full coverage in case an unfortunate event occurs. 

Renters Insurance is More Appropriate for Renters

Whether you rent a house, apartment, or condo, renters insurance is more appropriate. Condo insurance doesn’t cover renters, which is why renters insurance is recommended. The condo owner might also have insurance on the unit, but if the owner ever files a claim against their condo insurance, it wouldn’t benefit you or your personal items. Renters insurance would, and even if the homeowner doesn’t require it, renters insurance is a wise investment. 

As you can see, condo insurance is usually a supplemental type of coverage that is useful if the interior of your condo is damaged or your personal belongings are destroyed. If you’re buying your condo in Jefferson City, MO, and need a new insurance agency, you might want to consider Luebbering Insurance Agency LLC. We at Luebbering Insurance Agency LLC have been in business for several years, providing customers like yourself with high-quality coverage. Give us a call today for a quote.