A well designed personal condo policy can help you avoid situations that you might not come to expect.
Nashville, TN (PRWEB) August 15, 2012
In the past few years the Nashville area has grown substantially in size and population. Part of that growth has been illustrated by the increasing number of condominiums that dot central Nashville and the surrounding areas. In response to the increasing number of new Nashville residents, Royce Williams Insurance Agency has posted information on their website educating owners over aspects of condominium insurance in Nashville. There are significant differences between condo, renters and homeowners insurance. For those moving into a new urban area, in most cases condos are usually the first and most convenient housing option. The Nashville insurance company hopes to alleviate some of the stress that can be part of deciding the best coverage for a new condo.
Understanding how a comprehensive condo policy can help safeguard possessions and limit liability is important for those who are new to an area. “A well designed personal condo policy can help you avoid situations that you might not come to expect,” states Royce Williams, Principal for Royce Williams Insurance. “Most people think ‘it will never happen to me’ and it does - we hear this a lot. The good thing is when I hear that it’s from customers that we are able to help.”
One of the important details to consider is to what extent does the condo master policy cover. Williams also noted many condo owners do not consider needs for their furnishings and clothing assuming this may also be covered under the master policy. Many times these policies are written to only cover the property structure from the the studs outward. This means that in the event some kind of damage to the interior of the condo takes place, including possessions that are not classified as part of the structure, those assets will not be covered. Other things that may not be included in a master policy such as liability & personal injury insurance, as well as protection from natural disasters can result in large costs for owners.
In addition to items not covered, Williams stated, “Assessments are also an issue with condo policies. If the condo suffers a substantial loss, the association can assess the owners for the portion that is not covered.”
From the Royce Williams Insurance website, prospective and current condo owners can find additional information on how they can benefit from additional condo insurance. There are varying levels of condo and property owners insurance. With the correct guidance, Royce Williams believes they can educate people on the best coverages to match their unique needs. Loss assessment insurance coverage and optional insurance coverages are available to make sure owners get the most affordable condo insurance coverage available.
For more information on Nashville Condominium Insurance Policies and all of the different coverages offered at Royce Williams Insurance Agency, contact them at 615-356-4800.