What You Should Know Before Getting your

Glenbrooke Condo Insured

One of the first things you need to know when it comes to condo living is the scope of your insurance coverage. You don't want to be one of those owners who discovered too late the loss or damage incurred inside the unit are not adequately covered by the association policy.

The trick about buying condo insurance is to be thoroughly aware. If you’re a first-time owner of one of the Glenbrooke condos in Bridgewater NJ, read on to know the basics of condo insurance.

Master PolicyThe master policy is the general insurance you get as part of your homeowner's association (HOA) dues. According to Trusted Choice®, an organization of licensed independent insurance agents and brokers, there are the two types of master policy:

● An “all-in” condo master policy: Also known as a “single-unit” master policy, this type of policy covers the fixtures in your condo such as the appliances, wiring, plumbing, and carpets, but does not cover personal property that you own.

● A “bare walls-in” condo master policy: This policy does not cover anything contained within your walls. It may or may not cover your condo’s plumbing and electrical systems.

Since thefts, burglaries and accidents that happen outside the common areas are not covered by this policy, it is important to carefully review so you'll know the scope and specifications of the insurance. If possible, get ahold of a copy of the document so that you may consult with a professional should the need arise.

HO-6 PolicyInsurance for a particular condo is known as an HO-6 policy and it covers what the master policy doesn't cover. The most basic condo insurance typically covers loss or damage to your personal possessions, and provide coverage for personal liability and medical payments.

It can also protect you in an event that your unit becomes badly damaged by fire or storm. You can also insure valuable items such as jewelry and expensive artworks, provided you purchase additional coverage. In addition, it's your insurance against liability claims if you are responsible for another person’s injury or property damage.

Umbrella Insurance PolicyFor your complete protection, you can get an umbrella policy. Simply put, it acts as an “umbrella” over your risks and other finances since it provides liability protection over matters your condo and master policies don't cover.

There are many benefits of insuring your Glenbrooke condo in Bridgewater NJ. Think of it as a financial cushion the more comprehensive your coverage, the less money you are likely to spend for future disasters. You’ll have fewer worries and sleepless nights. Just make sure you review the policies to ensure that you are adequately covered and protected.

If you have inquiries regarding condos for sale in Bridgewater NJ, visit www.CNJHomeFinder.com.

For fast, stress-free and smooth home selling and buying transactions, or for any real-estate related concerns, call me, Michael Downer at (732) 302-1771. As one of the best real estate agents in Bridgewater NJ, let me help you find the home that suits you perfectly.