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Do you need vacant condo insurance for a condo
in California? This will be a question your insurance agent can answer based on
how often you occupy your vacation condo, and whether or not you rent it out
when you are not there.
Prior to purchasing your own insurance, your
first course of action may be to determine what your condo association
insurance covers. Typically, a condo association may cover the structure of the
building and other common areas, such as a pool or tennis court. Should you
choose to rent your vacation condo out when you are not there, your agent may
help you determine the policy you need to provide financial protection for any
damage done by your tenants. If you prefer to leave your condo vacant when you
are not vacationing there, your agent may help you choose the right policy for
that particular situation, too.
Your insurance company may have some concerns
in regards to your condo being left vacant. The risk of theft, vandalism, fire,
or water damage is thought to be higher when it comes to vacant condos, than
occupied ones. Also, no one is there to report damage as soon as it occurs,
which may compound the problems. You may want to look for a vacation condo with
a sprinkler system as well as smoke detectors and a burglar alarm. Doing all
you can to lower the risk of damage befalling your vacation condo may help
reduce the risk you’ll experience an unfortunate incident that results in a big
insurance claim.
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