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Important Condo Insurance You Shouldn’t Do Without

For many people, owning a condo in Burnt Hills, NY is the dream of a lifetime. To help preserve that dream, you’ll need condo insurance. Condo insurance from Anthony Catalfamo Agency LLC will protect your unit and belongings from unforeseen events like theft, fire, storm damage, and other disasters. If you’re serious about protecting your valuables, here’s some essential condo coverage you can’t do without.

Liability Coverage

What’s the point of owning a condo if you can’t invite family and friends to your home? Having people over, however, puts you at risk of accidents on your property. If someone’s injured in an accident and you’re found at fault, you can be held responsible for their medical costs. Liability insurance pays their medical bills and protects you against a lawsuit if you’re sued for damages

Interior Dwelling Coverage

This coverage protects the interior of your unit to include its walls, flooring, cabinets, fixtures, and built-in structures against such perils as windstorms, rainstorms, fire, and other disasters, so you’ll have funds to repair the damage that’s done.   

Property Coverage

It’s also important to protect your valuables, so you can recuperate your losses if they’re stolen or lost in a covered peril. Property insurance protects such items as furniture, appliances, clothing, electronics, and other valuables.    

You can choose from two types of property coverage to protect your belongings: actual cash value or replacement cost. With actual cash value, you’ll be reimbursed for the cost of damaged goods after taking off a percentage for depreciation. Replacement cost coverage pays to replace damaged items without depreciation, making it a better option for insuring costly goods. 

Condo insurance protects you against the unexpected, so you don’t lose everything you own. To purchase accurate coverage for your Burnt Hills, NY condo, call or visit us at Anthony Catalfamo Agency LLC today.

Does Your Guest House Need The Same Coverage As Your Main Home?

Do you have a guest house you just spruced up for the family, a summer rental, an adult child returned to the nest or another situation? If so, you likely want to protect your investment but are unsure of how home insurance coverages work on a second structure on the same property. At Anthony Catalfamo Agency LLC, we cover many types of home insurance situations in Burnt Hills, NY. Here is some useful information about guest home insurance. 

  • A guest home is typically covered much like a barn, storage shed, or detached garage under "other structures" coverage. It is an easy way to protect your property’s structures with your current policy. 
  • This coverage protects the structure for 10-20% of the value of the home from the same types of situations and damage that the main house is covered by. 
  • There are restrictions on this coverage. If you use the guest home as a rental or Air BnB, then it does not fall under the other structures coverage. 
  • If you want increased coverage, look into adding a floater, purchasing insurance individually for the guest house as a landlord, or discussing umbrella coverage for a unique situation. Our friendly agents will be happy to make sure that you have the exact coverage you need to protect your asset. 

If you are looking for quality insurance services in Burnt Hills, NY, or the surrounding areas, contact us at Anthony Catalfamo Agency LLC. We will be happy to answer any questions you have about specific home insurance situations such as guest homes, pools, neighboring fences, and more. We strive to provide friendly and reliable service every time. 

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