South Carolina has a picturesque coastline that all condo owners wish their patio overlook. Still, the region is susceptible to natural disasters that cause damage throughout the community. Standard condo insurance policies cover a range of natural disasters, but that varies with each provider. The team at C & H Insurance Associates LLC can assist in learning more about what damage from a natural disaster is covered in your condo insurance policy.
Standard Condo Insurance Natural Disaster Damage Coverage Options
Sometimes, enduring the risk of a natural disaster comes with living in South Carolina. Still, all condo owners should know what is covered should a natural disaster occur. A standard condo insurance policy will cover all structures permanently attached to the condo. Also, the coverage should protect the flooring and walls if a flood, hurricane, or tornado damages them. It is crucial to read the policy before signing, as the documentation will show what is protected from a natural disaster.
Personal Property Damage Value
Condo insurance pays the current market value for all personal property damage caused by extreme weather conditions. But the payment amount does come with a limit. To protect your investment, place a dollar value on the policy for all personal property items. It will help claim adjusters calculate the correct final cost of all property damage.
South Carolina Loss Assessment Coverage
In the event of a natural disaster, you need to understand the guidelines of your condo association. And just like your condo insurance policy, the association has limits on the coverage provided. Under the South Carolina loss assessment coverage, if the common area (roof and structure) shared by two units is damaged, the condo association will pay a portion of the repair cost. The unit’s condo insurance policy pays the remainder of the bill.
If you are unsure about the coverage offered in your condo insurance policy for natural disaster damage, call C & H Insurance Associates LLC. Our staff can offer all options available and build a policy that meets your insurance needs. Contact us today!
