Oakland Condo Insurance

Oakland condo insurance is a wise idea for California residents. Your condominium home is vulnerable to many natural disasters. And like any city, crime is on the rise leaving you susceptible to burglary and arson. Don't leave your belongings unprotected; purchase your Oakland condo insurance today!

Who Needs Condo Insurance

Everyone living in a CA condo should have condominium insurance, especially those living in Oakland. In addition to the normal threats such as thunderstorms that can bring damaging winds and hail, Oakland's location near the San Andreas Fault leaves it vulnerable to earthquakes that can cause significant property damage.

Buying Oakland condo insurance is quick and easy. Just fill out a form online and you will be given hundreds of quotes. Then just research until you find a rate that suits your budget. Be sure the company you choose is financially stable.

Types of Condo Insurance

There are two types of California condo insurance coverage to choose from when you live in a CA condo. The Oakland condo insurance you need will cover the contents of your home and provide personal liability coverage in case someone is injured on your property. The Oakland condominium master policy will cover the structure and common areas used by the residents of your building. Much like California renters insurance you do not need to cover the structure of your unit just the items inside.

Your Oakland master policy should cover walls, fixtures, floors, and ceilings of your condominium. Many master policies in Oakland also cover garages, security alarms, and decks. Any common areas that are used by people who own or rent a unit in your building should be covered as well. Make sure to read your by-laws to find out what is already insured by the master policy and what you are required to cover with your Oakland condo insurance. You pay for your master policy protection with HOA fees or association dues.

Although you do have some coverage under your master policy, you are responsible for much of what is in your unit. Even though structural aspects of your home are covered, if you have made any upgrades or improvements those will not be covered. You are responsible for insuring your clothes, furniture, appliances, and anything else you have inside your home. There are a couple of policies to choose from depending on what you are able to pay and what the value of the items you are insuring is.

Cash Value and Cost Replacement Condominium Insurance

The cash value policy is meant for those just starting out on their own that don't have a lot of valuable possessions. It is budget friendly and very simple. In the event of a disaster you will be given an amount of money based on the value of the items you lost. Keep in mind that because of depreciation and wear and tear you may not receive enough to replace everything. If you want to purchase newer items to replace the old ones, the difference between the price of your original appliances and the new ones will have to come out of your pocket.

The second type is the cost replacement policy. Although it is more expensive than the cash value policy, it allows you to go out and purchase replacement items even if they cost more than the original contents. If you can't do business without your laptop, then this policy is perfect for you because you will be able to quickly get a new one.

Both policies offer personal liability coverage to protect you from lawsuits if someone gets hurt on your property. While you are enjoying that game day cookout or house warming party accidents can happen. Oakland condo insurance will cover medical bills of anyone who is injured. If you are renting out your condominium this coverage is very important.

Earthquakes can cause severe damage to homes. In a lot of cases, you are unable to return to your condo until the damages have been repaired and it is safe to live in again. If this should happen, Oakland condo insurance will provide you with enough money to stay somewhere in Oakland close to jobs and schools until the damages are fixed.

Buying Condo Insurance

When you have educated yourself on the types of Oakland condo insurance available to California residents, you will want to make a claims list. Take inventory of all the items in your home and back up your list with pictures or a video. It is a good idea to make several copies of your claims list and keep them in secure places so you have one on hand in case of a disaster.

Purchasing Oakland condo insurance is so simple there is no reason to wait! Protect everything you have worked so hard for at a great price.

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