I have two condominiums I rent out. My understanding was my condo fees covered insurance of everything outside my walls. But my realtor told me I should still have home owner insurance in case I create some problem for other units due to issues with the interior of my unit. Is this correct? If so, any recommendations for how to shop around for a high deductible plan? I would prefer a deductible upto $50k. I am only concerned about something major happening.
High deductible home insurance options?
Mar 19, 2012
1 Replies
insurance of everything outside my walls. But my realtor told me I should still have home owner insurance in case I create some problem for other units due to issues with the interior of my unit. Is this correct? If so, any recommendations for how to shop around for a high deductible plan? I would prefer a deductible upto $50k. I am only concerned about something major happening.
Sounds correct to me.
To shop around, try calling insurance brokers in your area. For any given deductible, expect premiums to be higher than for an owner- occupied residence.
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