Condo Insurance in Michigan

Do You Need Insurance for Your Michigan Condo?

Michigan is a great place to call home. With many great cities such as Detroit and Grand Rapids, it has a lot to offer. Buying a condo is a significant investment, and as a homeowner, you want to protect that investment. When you have a mortgage, the lender will require that you carry insurance to protect their investment. Michigan has very distinctive laws about which elements of a condominium are covered by the unit owners, the condominium association, and also limited common areas that are shared by less than all unit owners. If this sounds confusing, it is, and our agents at Dalessandro Agency Inc. can help to explain the details.

As a condo unit owner, you are responsible for the interior of your unit. That includes your furniture, appliances, cabinetry, personal property, electronics, and clothing. If you had to replace all of these items, it probably costs a lot more than you imagine. Most people don't realize all the things that they own and the value that they have. Not everything that can happen to your property is a covered event, but things that are covered include fire and theft. This is one part of your condo insurance coverage.

Liability coverage is another part of your condo policy. If someone is visiting your home and is injured, this insurance will cover any medical bills and the potential of a lawsuit. Liability insurance can pay legal bills as well as a judgment against you. This coverage extends to all the members of your family, even your furry friends.

Another optional coverage is the loss of use. If a covered event damages your condo and it is so damaged that you can't live there, this insurance will pay for you to have a place to stay until you get your certificate of occupancy.

In many ways, condo insurance is similar to home insurance except that you are not responsible for most of the exterior. At the Dalessandro Agency Inc. in Kentwood, MI, we have the information you need to make sure that you and your condo have the perfect coverage.