The only reason I’m talking about this is because we’re fixing this problem for someone. If you own a condo, so you own it, don’t get renters insurance. This is just another example of why you should not do insurance by yourself. Cuz I know a lot of people when they buy a condo, they refer to, oh yeah, my apartment because it’s, you know, often shaped very similarly to apartments, very similar to apartment living. But you own the condo.
When it comes to insurance, there’s some things that are very different. For example, loss assessment coverage, you just cannot get that on a renters policy because there’s nothing to assess you rent there. Another one is building coverage. It most branches policies, there’s no way you can even add any sort of building coverage. For example, for the walls and what’s inside or in some condos, walls out.
I know insurance looks really simple, but if you don’t completely understand the terms, you may accidentally set up something incorrectly. So this is why I always say work with an independent agent.