Hello,
I wanted to check if my Condo Insurance coverage is adequate, or if I should be looking at increasing any coverage. Some information below:
12-month premium: $642 (received a letter that it may go up by 14% this year)
Policy is now 1-year old (was with State farm earlier), and there have been no claims on either policy.
I wanted to check if my Condo Insurance coverage is adequate, or if I should be looking at increasing any coverage. Some information below:
- Apartment building was built in 1901, has a common basement and a common backyard
- My apartment is on the 1st floor – 2bed + den, 2 bath, 1450 sq ft.
- Floors 2 to 4 have 2 apartments each – total 8, 1-bed apartments, each around 700sq ft.
- Building has a self-managed HOA
- I’ve been in my apartment for 5 years now
- Deductible All Perils $1,000
- Cov A Dwelling $181,888
- Cov C Personal Property $97,700
- Cov D Loss of Use $48,850
- Cov E Personal Liability $300,000
- Cov F Medical Payments $5,000
12-month premium: $642 (received a letter that it may go up by 14% this year)
Policy is now 1-year old (was with State farm earlier), and there have been no claims on either policy.