Condo
When purchasing a condo, obtaining a copy of the Covenants, Conditions & Restrictions (CC&R’s) is crucial to understanding the coverage required. Arae Insurance is here to assist you in this process, ensuring that your condo insurance aligns with your specific needs. Apart from covering the interior of your unit, including drywall, paint, flooring, and more, it’s vital to consider potential loss assessments.
Loss assessments may arise in situations where the condo association’s insurance falls short in covering certain damages or liabilities related to common areas. In such cases, condo owners may be subject to additional financial responsibilities. Arae Insurance will guide you through understanding the CC&R’s provisions related to loss assessments, helping you determine the appropriate coverage to safeguard your financial well-being in the face of unexpected expenses.Our comprehensive approach involves a thorough examination of the CC&R’s, discussing the quality of finishes for proper interior replacement, assessing the type of contents you own, and addressing potential loss assessment scenarios. By partnering with Arae Insurance, you can ensure that your condo insurance not only meets the requirements outlined in the CC&R’s but also provides a safety net against unforeseen loss assessments.
