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Does my personal auto insurance extend to a rental car?

By | Automobile Blog, Insurance Blog | No Comments

Rental car coverage varies policy to policy,¬†you’ll want to follow these tips to understand your coverage.

You’ll always be asked if you want to buy insurance when you’re at the rental car agency counter. Most people decline because they have insurance on their own personal vehicle, but whether they’re actually covered, the type of coverage and its limits depends on their existing personal auto insurance. Read More

Is condo insurance required?

By | Condo Insurance, Insurance Blog | No Comments

Your lender will most likely require you to insure your unit, and show proof of coverage at time of closing.

When you own condominium property, you individually own everything inside of the walls of your unit. You share an undivided interest with other condominium owners on anything outside of the walls of your unit. Because of the nature of this dual ownership concept, insurance requirements are different than those for a single family home. Your lender will most likely require you to insure your unit, and show proof of coverage at time of closing. Remember that your condominium association will ordinarily ensure everything outside of your unit.
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Is personal liability included in renters insurance?

By | Insurance Blog, Renters Blog | No Comments

Like homeowners insurance, most renters insurance also covers your personal liability.

Renters insurance doesn’t just insure your personal property. Like homeowners insurance, most renters insurance also covers your personal liability and the personal liability of anybody else designated as an insured person. You’re all insured up to the extent of your policy limits. Personal liability generally extends to property damage and personal injury. Read More

What does condo insurance cover?

By | Condo Insurance, Insurance Blog | No Comments

Condo insurance and homeowners insurance are two very different types of policies.

The general rule is that condominium owners have title to the interior of their individual units in their own names. They share common ownership of anything outside of their units like the roof, exterior walls, hallways, parking lots and green space with their condominium association. That’s why condo insurance and homeowners insurance are two different types of policies. Anything on the interior of your condo premises is your option to insure. Anything else outside of your unit is the condo association’s responsibility. The difference is, if you own a home and not a condo, your homeowners insurance covers both the interior and the exterior of the premises.

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Are you required to have homeowners insurance at closing?

By | Homeowners Blog, Insurance Blog | No Comments

Homeowners insurance is almost always required at closing.

When you’re taking out a mortgage to buy a home, the real estate serves as security for the loan. Since your lender is going to maintain an interest in that property, it wants its interests insured against damage or loss by fire, explosion, weather or the like. That’s why either prior to closing or at time of closing, you’re going to be required to show your lender that you’ve purchased homeowners insurance with an appropriate mortgagee’s clause designating the lender as an additional insured. Read More