I got mixed messages on this one:
We own a bareland condo/ duplex, with condo fees covering "all risk" insurance on structure replacement and common property.
We have been advised by our condo board & management company to still get homeowner insurance, and not just a condominium insurance, as it is only "a few pennies" more and can't hurt anyways.
Not so anymore with the current spike in premiums,there is quite a difference in rates. Until now we have a condominium insurance...what would be the best scenario based on the bareland condo situation?
Are there any major benefits in still getting a homeowners insurance despite the property being covered already?
Appreciate insights and feedback.
We own a bareland condo/ duplex, with condo fees covering "all risk" insurance on structure replacement and common property.
We have been advised by our condo board & management company to still get homeowner insurance, and not just a condominium insurance, as it is only "a few pennies" more and can't hurt anyways.
Not so anymore with the current spike in premiums,there is quite a difference in rates. Until now we have a condominium insurance...what would be the best scenario based on the bareland condo situation?
Are there any major benefits in still getting a homeowners insurance despite the property being covered already?
Appreciate insights and feedback.