Avoiding Condo Coverage Gaps
If you own a condominium, you have both common and personal insurance needs. When selecting coverage, it’s important to determine exactly what is covered by your association’s master policy and what is not.
Typically, the condo association carries a master policy that covers common areas, such as the lobby, walkways, boiler, basement, etc. In most cases though, the master policy does not provide any protection for the interior of your unit or your personal possessions.
A Condo Insurance policy is designed specifically to address this potential coverage gap. The policy includes coverage for your personal possessions, structural improvements made to your living space and additional living expenses incurred due to an accident.
After you’ve determined what’s covered by the association’s master policy, you will need to estimate:
- The cost to repair or replace the inside of your home if it were damaged, including fixtures, kitchen cabinets, plumbing, wiring, built-in appliances, etc. (if not covered by the association’s master policy)
- The cost to replace the contents of your home
To assist you, we will provide a form for you to conduct a thorough inventory of your home. This will help you to determine your personal property policy limits, which will ensure you have the right amount of coverage in the event of a covered loss.
[/box] [box] Auto“Share the Road” Safely
Summer is almost over, but motorcyclists are still out in force. Because motorcycles are small and low to the ground, it can be difficult for other drivers to see them, or accurately judge their speed and distance.
Take the following safety precautions to reduce your chances of being involved in a costly and potentially deadly accident:
- Always allow a motorcyclist the full lane width—never try to share a lane.
- Perform a regular visual check for motorcycles by checking mirrors and blind spots before entering or exiting a lane of traffic, and at intersections.
- Always signal your intentions before changing lanes or merging with traffic.
- Don’t be fooled by a flashing turn signal on a motorcycle. Motorcycle signals are often not self-canceling and riders sometimes forget to turn them off. Wait to be sure the motorcycle is going to turn before you proceed.
- Allow additional following distance when behind a motorcycle to give the motorcyclist time to maneuver around obstacles in the roadway, or stop in an emergency.
Top Ways to Save on Your Auto Policy Premium
Auto insurance rates are as competitive as ever, but there are still ways you can reduce the amount you pay to insure your vehicle every year. Here are several ways to lower your premium:
- Consider raising your deductible
- Keep up your good driving record
- Drive less to qualify for a low-mileage discount
- Drive a car with safety features such as anti-lock brakes, airbags, etc.
- Install an anti-theft device
- Ask about our multi-policy discounts
