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Deluxe Insurance Group

4515 E Superior St
Duluth, MN 55804

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How To Select a Condo Insurance Policy in Duluth MN

Selecting the right condo insurance policy can be daunting. There are many factors to consider, and it’s hard to know where to start. Deluxe Insurance Group in Duluth, MN can help you provide expert insurance guidance.

Here we provide tips on selecting the right policy for your needs:

What is Condo Insurance and Who Needs It?

Condo insurance, also known as HO-6 insurance, is designed for condominium unit owners. If you own a condo, you insure your personal belongings and any interior improvements or upgrades you made to your unit. The condo association’s insurance policy will only cover the building and common areas, not your unit.

A Deluxe Insurance Group representative can help you select the right insurance policy that meets your needs.

What Type of Coverage Do You Need?

The coverage you need will depend on several factors, including the value of your belongings and any upgrades or improvements you made to your unit. You’ll also need to consider whether you want replacement cost or cash value coverage. Replacement cost coverage will reimburse you for replacing your belongings, while actual cash value coverage will reimburse you for the depreciated value of your belongings.

You’ll also need to decide whether you want to purchase liability insurance. This type of coverage will protect you if an injury occurs in your unit or if you’re liable for damages caused by your unit.

What Are the Deductibles?

Your deductible is the amount you’ll pay out of pocket before your insurance policy kicks in. The higher your deductible, the lower your premiums will be. For example, if you have a $500 deductible and experience a loss that costs $1,000 to repair, you’ll pay the first $500, and your insurance company will pay the remaining $500.

Give Us A Call

Contact Deluxe Insurance Group in Duluth, MN today to learn more about selecting the right condo insurance policy for your needs.

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