Hello,
I posted an ad re. condo insurance back in December 2007.
My ad was: "I purchased 2 investment condos recently and according to my realtor, I do not need to purchase insurance coverage for these condos since the condo fees already covers insurance for the building. As such, I haven`t purchased insurance yet. My tenants got their own insurance for their personal belongings. Do you still recommend that I get additional insurance for these condos and if so, which ones? Thank you."
Thank you for all those who replied to me. You all agree that I should obtain my own insurance coverage for the rental condos I own. I own my principal residence in BC and all my condos are in Alberta. Should I obtain extended insurance liability and extended coverage for white goods, as an extension of my insurance on my principal residence or should I obtain independant insurance for each of the rental condo in Edmonton? I asked my insurance company Allstate and other people around and some answered that I should get extended insurance and some others said that I should get independant insurance coverage for each suite. Which insurance company do you use?
Thank you.
I look forward to your replies.
Suzy
I posted an ad re. condo insurance back in December 2007.
My ad was: "I purchased 2 investment condos recently and according to my realtor, I do not need to purchase insurance coverage for these condos since the condo fees already covers insurance for the building. As such, I haven`t purchased insurance yet. My tenants got their own insurance for their personal belongings. Do you still recommend that I get additional insurance for these condos and if so, which ones? Thank you."
Thank you for all those who replied to me. You all agree that I should obtain my own insurance coverage for the rental condos I own. I own my principal residence in BC and all my condos are in Alberta. Should I obtain extended insurance liability and extended coverage for white goods, as an extension of my insurance on my principal residence or should I obtain independant insurance for each of the rental condo in Edmonton? I asked my insurance company Allstate and other people around and some answered that I should get extended insurance and some others said that I should get independant insurance coverage for each suite. Which insurance company do you use?
Thank you.
I look forward to your replies.
Suzy