Condo Insurance Oregon City
Do you own a condo in Oregon City, OR? If so, you need an insurance policy that covers your personal property, some dwelling coverage for any improvements you might make, and liability for accidents that occur inside your unit. The knowledgeable agents at Schmidt Insurance Group can help!
Schmidt Insurance Group opened its doors in Lake Oswego in 2019 with a goal of making insurance simple, transparent, and affordable, while providing exceptional customer service. We are born-and-raised Oregonians who proudly serve the local Portland area and all of Oregon and Washington. We are specially trained in high-net-worth households and can help you find the exact amount of coverage you need.
About Condo Insurance
Your condo or homeowners association (HOA) will carry a master policy to insure the building and pay for accidents or injuries that occur in common areas. Typically, part of your monthly association dues pays for this insurance.
Since there are different types of HOA master policies, it’s important for us to know which one your HOA carries. We recommend having Schmidt Insurance Group agents review a copy of your HOA’s master policy so we can make sure you have the right condo insurance coverage.
- If the HOA has what is called an “all-in” policy, it will usually cover the original items built into your unit, like the cabinetry, lighting, and other fixtures, as well as the plumbing and wiring, and the HOA will provide insurance coverage for them.
- If, however, the HOA has what is known as a “bare walls in” policy, it will be up to you to insure everything in your living space other than the walls, floors, and ceilings.
Personal Property Coverage
When you live in a condo, insuring personal possessions like your furniture, clothing, jewelry, and electronics is your main responsibility because the HOA’s master policy does not typically cover your stuff. The value of your personal property will be a major factor in deciding how much coverage you need.
Keep track of all of the belongings in your condo. Any time you make a large purchase, you’ll want to update your contents coverage. If disaster strikes, your condo insurance will cover only what’s on your contents list. If you neglected to list your $5,000 couch, you won’t get anything for it if damaged.
It’s important to note that most condo insurance will have a limit on the amount of personal property coverage. There may even be limits on valuables like fine art, antiques, and jewelry. If you own expensive items, you may need to purchase an endorsement to cover these items.
If you own a condo in the Oregon City, OR area, the agents at Schmidt Insurance Group can help you get the coverage you need. Stop in for a visit today, or give us a call at (503) 206-0881 for more information.
