Condo Insurance Tigard, OR

Do you own a condo in Tigard, OR? Unlike with a single-family home, you don’t own the building, but you do own your unit. Consequently, 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 are ready to help!

Condo Insurance Tigard, OR

Schmidt Insurance Group opened its doors in 2019 with a goal of making insurance easy while providing exceptional customer service. We proudly serve the local Portland area as well as the entire states of Oregon and Washington. Our office is full of born-and-raised Oregonians who are specially trained in high-net-worth households and can help you find the exact amount of coverage you need.

Understanding Condo Insurance

When you own a condo, you share ownership of the entire complex with all other condo owners and have a shared responsibility to insure common areas like the land outside the building, the building lobby, hallways, stairwells, tennis courts, pool area, etc.

Your condo or homeowners association (HOA) will carry a master policy to at least insure the building and pay for accidents that occur in common areas. Part of your monthly association dues usually pays for this insurance.

There are typically two different types of HOA master policies, and it’s important to know which one your HOA carries.

  • 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.

There are also variations of these two types, so we recommend having Schmidt Insurance Group agents review a copy of your HOA’s master policy to ensure that you have the right condo insurance coverage.

Homeownership of any kind is a huge responsibility. There are insurance risks around every corner and in every crawlspace. That’s why, no matter what type of structure you call home, guidance from the knowledgeable insurance agents at Schmidt Insurance Group will help you prepare for all sorts of domestic hazards and protect you financially.

If you own a condo in the Tigard, OR area, our agents know their Schmidt when it comes to insurance and can help you get the coverage you need. Come have a cup of coffee at Schmidt Insurance Group today, or give us a call at (503) 206-0881 to explore your insurance options.