Condo insurance in California can be a complicated issue. Not only is the owner of the condo involved, but the homeowner's association is often involved as well as the insurance held by that association. The ownership of the condo as a legal entity may come into play as well as HOA insurance policies that may overlap with certain aspects of homeowner policies.
Condo insurance is similar to renters' insurance, but it generally includes coverage for a unit's interior, since the homeowner is responsible for these repairs. It also includes coverage for any improvements that you make to the property as the homeowner. All of this is in addition to the standard property coverage that insures personal property and covers liability.
There are certain parts of the condo buildings that are owned by the condo association, and they generally insure those parts. Often, figuring out exactly what you need to insure and what is already insured by the HOA comes with a deep dive into the paperwork you signed at purchase time as well as the CC&Rs that you agreed to as an owner of the condo. There may also be areas that require both of you to have coverage so that both of your policies can pay toward damages.
If you are interested in finding out more about condo insurance coverage from Wynn Insurance Agency, contact us today to find out how we can protect your property. We can help you to understand precisely what condo insurance in California covers and what kind of policy you need for your property. We can also work with you to create a policy that has the amount of coverage you need for your condo and the property inside it.