Condo Insurance Quick Tip

August 26, 2020

By William Bronchick, Real Estate Mentor- Real Estate Investing Programs

Keep in mind that your insurance on a condo that is pulled through the HOA dues does NOT cover your interior or liability.  This is true whether this is your personal property or you are into real estate investing. So, for example, if your hot water heater breaks and leaks into the neighbor, your HOA insurance will NOT cover it!  You need a separate policy to cover the interior and for liability issues like fires or floods.  Don't learn this one the hard way, as I did years ago! Be sure to contact your HOA to see what actually IS covered and then an insurance broker that is knowledgable in property insurances.

Share this article

William Bronchick, ESQ.

Nationally-Known Attorney, Author, and Speaker

Attorney William ("Bill") Bronchick, the host of Legalwiz.com, has authored six best-selling books and is sought nationwide for his 30+ years of real estate and legal knowledge. He has been interviewed by numerous media outlets, such as CNBC, TIME Magazine, USA Today, Investor Business Daily, Forbes, and the LA Times, to name a few. William Bronchick is the co-founder and past President of the Colorado Association of Real Estate Investors and the President of the Colorado Landlords Association. Click on the "About" link above for more information on William Bronchick.

Related Articles

Finding Contractors

Finding a contractor that is honest and reliable is a tough, but crucial part of your real estate business. Here are some tips for finding that “Golden Nugget” of a contractor. Referrals This is the most obvious and easiest way to find contractors. Try to secure referrals from investors and friends; somebody you know and trust who

Read More