For someone visiting Sequim, WA for the first time in ten years, the change in the small coastal town would be dramatic. Sequim, though not quite yet a bustling metropolis, has experienced a boom in building and a surge in shopping. New developments have sprung up on both sides of the highway (that also until recently wasn’t there), including additions to real estate. With the rising popularity of condos, and the influx of retirees to the Sequim area, it’s not surprising that part of the new construction has been devoted to condominiums.

Condominiums can be the perfect choice in many stages of life, whether you’re newlyweds or about to celebrate your golden anniversary. Shopping for the perfect condo can be tricky, and many may not think about insurance in the process. But once you’ve found your condo, insurance should be at the top of your priority list.

Coverage is indeed afforded by condo associations, but it’s limited at best. There are tricky grey areas in their insurance plans that don’t provide the coverage you might think. The exterior of the condo buildings and all common areas—any pools, club houses, tennis courts, etc.—are included in their insurance. The actual condo units themselves, however, are not. With the condo association’s plan, coverage stops, quite literally, at your front door.

Condo associations are not required to insure their residents. All personal property and possessions of condo owners are consequently without coverage, and often any damage to floors, walls, furniture, or appliances is your responsibility, regardless of whether the damage is due to Mother Nature or a rowdy neighbor. And if someone has an injury in your unit, that's your problem as well, for the condo association’s liability also does not extend to its tenants.

This precise predicament is what a personal condo policy is tailored for. It anticipates the problems with condo coverage, insuring everything within the exterior walls of your condo not included in the condo association’s policy. Determining how much insurance you need is simple. A document called the Condominium Associations Declaration specifies what the condo association’s insurance covers and, more importantly, what it does not. It gives the condo owner an idea of how much insurance they need. In addition to reviewing the declaration, assess the costs of repairing or replacing your personal property in the condo, including how much liability you may need if an accident or damages should occur to your unit.

To make sure you have the right amount of coverage for your condo, contact Homer Smith Insurance. Send us an e-mail, or call us directly at 888-433-0031. Condo insurance is inexpensive and protects what is most important to you and your home. Help us help you make sure you have what you need.

Erin Stork, Homer Smith Insurance