Owning a condo is in some ways like owning a freestanding house and in other ways, it is quite different. When it comes to what condo insurance covers, it is important to understand what is covered by the association’s insurance and what needs to be covered by your personal policy. Condo owners in Myrtle Beach, SC can count on Benefit Insurance Services to have the answers to any questions they may have about condo insurance.
When you own a condo, the exterior of the building and the shared areas like the pool, gym, walkways and parking lot are covered by the insurance that the association holds. It should have insurance that covers damages as well as liability in case someone is injured while visiting. South Carolina requires that associations have insurance but it does not define the specifics of the necessary coverage. As an owner, it is wise to double-check that coverage.
As a condo owner, you may be required by your lender to have a condo policy. Your policy covers the interior of your structure, the interior floors, ceilings, walls, etc. It also includes your personal property such as your furniture, clothing, appliances, and electronics. Above that, it also provides you with liability insurance in the event that someone is injured inside your dwelling or by your personal pet outside the building. It can also protect your personal property when you are carrying it with you away from home. Coverage includes things like fire, water, vandalism, and wind.
If you are purchasing a condo or already own one and you live in or near Myrtle Beach, SC, why not give Benefit Insurance Services a call or stop by our office. We have knowledgeable agents who are happy to sit with you and explain all the benefits that condo insurance can provide.