The benefits of having condo insurance are numerous. It can provide financial protection in the event of a natural disaster, fire, or burglary, as well as any other type of property damage. Additionally, it can help cover costs associated with personal liability for injuries suffered by visitors to the property. In some cases, condo insurance may also cover expenses related to legal defense and court costs if an insured is sued for damages or negligence.
Many condo insurance policies also offer additional coverage, such as loss assessment coverage and personal property coverage.