WHat is a typical homeowner insurance quote for a condo?
December 7, 2009 by
Filed under condo insurance quote
2br 2 bath less than 4 storie complex… new build… pool, clubhouse separate. Looking for an average deductible and limits for the monthly/ yearly taxes
300,000 condo in dutchess county NY
All the websites want loads of info and contact info
For a condo, your association fees will cover the outside dwelling. If you are just buying, you should be fine with the mortage company.
Condos are typically covered under the master association policy. This is due to your ownership is limited to interior od the unit. So if the postman slipped on a banana peel delivering a package to your door step, the condo association has liability coverage. The insurance that you need is for the interior, contents coverage. If the neighbor above you has a water bed leak and it comes into your unit and ruins your laptop, the contents insurance covers it. Contents coverage is not typically escrowed with any mortgage as it is still optional. Below is a website that also may have additional information. Hope it helps.
Well, there’s a REASON they need loads of info!! Because that’s the only way to narrow it down. How much BUILDING coverage do you need? What’s the ASSOCIATION POLICY DEDUCTABLE?
I’d guess that the RANGE of PRICES, for insurance on this, is going to be between $300 and $1,000 depending on what EXTRAS you need to add to the policy – like jewelry, or coin collections, etc. Taxes, well, they should TELL you that before you close, or you can look it up on the local websites.
MY numbers are a WAG (Wild A** Guess), though, so if you need them for budgeting purposes, you’ll have to get REAL numbers from a local agent – and give them loads of information.
YOUR CREDIT SCORE will be an important part of the rating process, just be forewarned. So will your claims history.
Listen to mrbcatz17. She knows.
It is increasingly amazing to me that consumers today want instant answers when it comes to their insurance coverages. They willingly allow a lizard to provide them the “lowest” price possible for an auto policy. Anything to avoid talking to a local professional who in most cases really does care that their clients are receiving the proper coverages at an affordable price. Insurance is way to important an issue to you, your family, and those around you to rely on a cartoon character or some stranger on the other end of a computer connection.
Sorry for the rant.