Louisiana Condo Insurance

Louisiana condo insurance is the perfect investment to protect all of your precious possessions in the event of a natural disaster. Living in LA gives you the beauty of all the great cities and towns along with the friendly hospitality of the south. People living in condominiums know the relaxation and security that comes from living in a building protected and maintained by someone else. Don't get caught unprepared, find great quotes and rates on Louisiana condo insurance today.

Condominium Master Policy

Many people believe while living in a condominium in Louisiana, they do not need to purchase house insurance. When purchasing or renting a condo, make sure that you understand what the condominium association dues or HOA fees cover. Most of the time, the building policy only covers the structure of the condo and the common areas. For example, if a hurricane or flood affects the area of Louisiana you live in, the association will be responsible for repairing the damages to the actual building and the areas used by all of the tenants. This will include the pool, garages and carports, sport courts and any other areas that are used in common by all the unit owners. This master policy does not include the contents of your unit or any upgrades you have made since you moved in. As a condominium owner, you may also be assessed part of the amount for the deductible or other expenses above and beyond what the association policy covers. Before purchasing your own Louisiana condo insurance, make sure you understand what the master condominium insurance policy covers and what you will need to cover on your own.

Condo Insurance Coverage

Condo insurance is much like renters insurance because it covers the contents of your home, but not the actual building in Louisiana. This is one great reason for buying or renting a condominium and usually the rates are much lower than insuring a single family home. There are two basic types of coverage you need to look at before finding a Louisiana condo insurance quote. The first type is actual cash value coverage. This type of policy will cover your belongings in the event a fire, flood or other hazard occurs. This is the cheapest type of insurance because the policy will only reimburse you for the actual value of the items you have lost. People who are on a tight budget and want the best coverage for their money may choose this policy. You will need to take an inventory of your Louisiana home and make a list of your possessions and make sure you know what you have and what would need to be replaced in the event of a disaster. Just remember, this type of coverage will pay you what the items are worth, not what it will cost to replace them.

The second type of Louisiana condo insurance is replacement value coverage. This is an excellent policy if you own many valuable items that you would need replaced to continue with your current lifestyle or if you have made upgrades to your condominium unit in Louisiana. This policy will pay you the amount you need to go to the store and replace the items you have lost. For example, if you have a great flat screen television, beautiful hardwood floors, and stainless steel appliances that are destroyed in a flood or fire, this policy will help you replace the items and bring your home back to the condition before the disaster occurred. If you want to get on with your life after a natural disaster, make sure you have Louisiana condo insurance and give yourself peace of mind.

A final type of Louisiana condo insurance you may need is an HO-6 policy. This is also called personal liability coverage. In the event someone is injured while visiting your condo, this policy will cover the medical or legal expenses that may be associated with the accident. Residents of LA love to have parties and entertain. If someone slips and falls on your patio or deck, you may be responsible for that person's injuries. Make sure your condo insurance policy will cover these expenses. Also, in the event you are sued because of an incident at your home, the policy will cover the legal costs that may be incurred. Just make sure you have educated yourself about all aspects of your Louisiana condo insurance policy.

Living in Louisiana is a great choice if you enjoy having fun and experiencing the rich culture of New Orleans and other great towns in this wonderful state. Make sure your home is protected against all types of natural disasters and other hazards with Louisiana condo insurance. Give yourself and your family the peace of mind of knowing that even when bad things happens, life can and will go on.

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