Condominium Insurance Information
What is condominium insurance?
Condominium insurance is similar to homeowners insurance but is designed for the specific needs of condo living. Especially in Mammoth Lakes, condos offer convenience and affordability compared to single family homes. In Bishop and the rest of the Eastern Sierra, many people choose to buy condos since they offer on-site maintenance and access to community amenities. With condos, the main structures of all buildings and common areas are covered by an insurance policy held by the condo association. A personal condo insurance policy is also required to cover property damage and liability risks of the unit owner.
Why do you need condominium insurance?
Condo insurance (aka an HO6 policy) benefits condo owners as well as their visitors. Most mortgage companies in Mammoth Lakes and Bishop require condo owners to get a condo owners policy for the duration of their loan. Condo insurance may cover damaged, lost or stolen property due to fire, theft or natural disaster. This protection could extend to interior furnishings, including walls, flooring, ceilings, appliances and fixtures.
This policy also covers you against liability claims. If you're found liable for a visitor's injury, condo insurance could cover associated medical expenses and/or legal fees.
How much condominium insurance do you need?
The amount of insurance you need depends on the value of your possessions. By determining how much it would cost to replace all your possessions, you can estimate the policy size that would be appropriate for your individuals needs.
Why choose an independent agent?
Independent insurance agents offer more insurance options with more variety in pricing for customers. Since we work with many different companies, we can usually help you fill all your insurance needs without having to use different agents. We also take the time to figure out what you need and connect you with the best insurance policy. We don't believe in a one-size-fits-all approach with insurance.