| condominium insurance offers a number of | | | | condominium lease. Often this can be confusing |
| advantages that a standard Condo/Coop Master | | | | and may require the individual to pay an attorney |
| policy provided by that HOA might not. | | | | to clarify. Texas Auto Home Insurance can help |
| In many cases, associations only insure the condo | | | | by providing Texas condominium owners, |
| as built, along with any standard housing fixtures | | | | landlords, and tenants a simple and very clear list |
| such as plumbing and wiring installed at time of | | | | of things to look for in their documentation. |
| construction. Over the years improvements may | | | | George White, President of Texas Auto Home |
| be made that are not covered under the original | | | | Insurance Agency, can also tell you what |
| condo insurance policy, and a recent buyer may | | | | questions you need to ask in order to clarify the |
| assume that improvements are covered when | | | | coverage if the documentation you have been |
| indeed they are not. To prevent any after the | | | | given appears vague or confusing. If you decide |
| fact and very unpleasant surprises, Texas Auto | | | | you need additional condo insurance coverage |
| Home Insurance has completed considerable | | | | George White’s staff can utilize an |
| research specifically for condominium owners, | | | | extensive network of resources to find the very |
| landlords, and tenants in all Texas regions and | | | | best policies, coverage extensions, and premium |
| cities that can answer these and many other | | | | rates for Texas residents. The following |
| questions in advance, plus provide information on | | | | constitutes a brief list of examples: |
| how to obtain better condo insurance rates and | | | | Unit Assessment |
| more comprehensive, itemized coverage. | | | | Should your homeowner’s association |
| We have written this short essay to better | | | | charge you a portion of a covered loss (say, for |
| inform you of the many excellent opportunities in | | | | example, a fire in the complex), this coverage will |
| a wide variety of coverage this form of insurance | | | | reimburse you the funds necessary to fulfill your |
| offers to Texans. | | | | requirements. |
| It is important before we go much further to | | | | Water Back Up |
| differentiate between the types of Texas | | | | We strongly recommend that Texas residents |
| condominium insurance policies residents often hold | | | | invest in this coverage. Many condos in Texas on |
| or consider obtaining. The first is the master | | | | are 40 years in age or even older and may be |
| policy, or “coop policy.” It insures | | | | subject to occasional water and sewage problems. |
| the areas that residents in a building share in | | | | Personal Liability |
| common with one another, such as elevators, | | | | This provides extended, specific condo liability |
| roofs, utility facilities, walkways, and patios. Should | | | | insurance coverage beyond standard Texas coop |
| any of these areas be damaged by a covered | | | | policies. It also protects landlords who manage |
| claim peril in or on the insured property, the | | | | properties on behalf of owners from any personal |
| complex and/or homeowners association that | | | | litigation against them that might be filed by a |
| holds the master condo insurance policy will cover | | | | tenant. |
| most repairs. This however, does not cover | | | | Personal Content Coverage (owners, landlords, |
| personal possessions, or extend to any | | | | AND tenants) |
| improvements you may have made if you are an | | | | Texas condo renters may insure expensive |
| owner who has purchased the condo as an | | | | contents such as furs and jewelry. We strongly |
| investment. For this, a person must have a | | | | recommend this because standard policies only |
| personal Texas condo insurance that also will | | | | indemnify tenant property up to stated limits |
| indemnify them against additional perils and | | | | unless additional coverage is added. |
| damages. | | | | Natural Disasters |
| The only way to make certain that all fixtures, | | | | Perils in Texas range broadly per region of the |
| improvements, and contents of a condominium | | | | state. Your agent can assess these for your and |
| are covered is to study either the bylaws of the | | | | give you the best coverage to protect against |
| building association or the details of the | | | | them as needed in your area. |