The Insurance Handbook

Being a condo owner takes on a certain responsibility and level of risk. Though you share some amenities, like a pool or a gym, with others living in your condominium building, you still want independent protection from personal property loss or liability as a condo owner. Condo insurance, sometimes referred to as ‘HO-6’ refers to the ‘sixth type of basic policy form in a homeowners insurance policy.’ This form of insurance came about to be able to offer protection to condo owners. Throughout this guide, we will cover what condo insurance is and why you need it, the types of condo insurance coverages you can get, and how to shop for the right condo insurance policy. What is Condo Insurance?  Condo insurance, which is also known as HO-6 insurance, is a property insurance that is designed for condo owners and covers the owner’s personal property, liability, and certain portions of the condo that are not covered by the condo master policy. Key Features of Condo Insurance:  Person...

 While important, renters insurance is one of those things in personal finance planning that people tend to pay much attention to. Renters often think that if their landlord has insurance, then they are covered. This is a big mistake. Usually, the landlord has insurance that only covers the building, not a tenant’s personal property. Fortunately, there are companies around the country that offer renters insurance. In this post, I’ll explain what it is, why it’s important, what types of coverage are available, and how the buy it. What is Renters Insurance?  Renters insurance is a form of property insurance that helps shield tenants from financial losses related to damage or theft of their personal possessions. It also provides liability coverage should an individual get injured in your rented home, and expense coverage for temporary accommodations should you need to move out while repairing post-damage amenities. Key Features of Renters Insurance:  Personal Property Covera...

For homeowners, renters, and business owners alike, property insurance is a vital commodity, providing vital financial protection against your property suffering loss or damage in an unexpected event. From having your home flooded to having your business premises broken into, the right property insurance will allow you to recover from an unexpected disaster without financial hardship. With that in mind, here’s our handy guide to what property insurance is, how it works, the different types available, and what you need to consider in order to choose the right policy for your needs. What is Property Insurance?  Property insurance provides financial protection against risks to property, such as fire, theft vandalism, and certain types of weather damage. It typically covers the building structure of a property, its contents, and – depending on the type of policy – the land held alongside the building. It regards the quality of your building or contents, and provides you with the money ...

 Homebuying is one of the most significant moments you’ll experience in life. Since owning a home comes with certain obligations, the utmost responsibility for the owner of the house remains to hold the property and protect the safety of their family. The most crucial decision you’ll have to make in order to keep your most valuable investment buoyant is buying homeowners insurance. It not only defends your property but could very well protect your sanity by overseeing key risks. Homeowners insurance itself is pretty straightforward to comprehend. If you’ve already purchased your first home, it doesn’t matter whether you know about this coverage; you just might find it helpful to understand it — though if you’re considering entering the property market, it’s worth reading up on. Here is an insight into what homeowners' insurance is, how it works, what it covers, and why every homeowner needs it. What is Homeowners Insurance?  Homeowners insurance, a specific type of property in...