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    Personal Insurance Blog

    Homeowner 101

    Posted by Donna Bellavance

    Tue, Dec 17, 2013 @ 09:16 AM

    Learn about homeowners insurance for your home with andrew g gordon incA homeowner's policy is considered a “package” type of policy where the premium is derived from the coverage for the dwelling and other coverages are provided based on this limit at no additional premium. The dwelling limit is based on details of the home (year of construction, type of construction, finished or unfinished basement details, number of bathrooms, quality of  construction, wall and floor finishes, heating type, etc) which are plugged into carrier estimating software which then provides an estimated cost to rebuild for the home. This amount is what is used as the dwelling limit on the policy. The other coverages are usually provided at a percentage of the dwelling limit and no premiums are attached. Other structures (such as fencing, garage, shed, pool, patio, gazebo, etc) is usually at 10% of the dwelling coverage, contents (personal belongings as well as above ground pools) is usually at 50% or 70% of the dwelling limit, and loss of use (when insureds are displaced following a covered loss) is usually at 20% of the dwelling limit.

    An issue that can arise is if the dwelling limit has not been increased for renovations or has not kept up with inflation and there is a covered loss and the carrier has determined that the limit is not at least at 80% of the replacement cost estimate. If this occurs, a co-insurance penalty is incurred. If the replacement value is $1,000,000 but coverage is at $750,000 (this is only 75% of the replacement cost) then the carrier would only pay 75% of the total loss. 

    Liability and medical payments are the other coverages provided by the policy and do include premiums for injuries incurred.

    A homeowner policy can be written as an HO-3 which is the standard policy offering “open perils” coverage for the dwelling and limited “named perils” coverage for contents or as an HO-5 which is “open perils” for both thus broadening coverage for an insured’s belongings.

    There are several endorsements to the homeowner policy which most people opt to include in their coverage. Some of the more common are replacement cost coverage for the dwelling.  Carriers provide either “guaranteed” replacement cost coverage on the home or coverage at 125% or 150% of the dwelling limit. To be eligible for this endorsement, it is required to maintain the coverage at the estimated cost to rebuild based on the company’s software determination. Replacement cost coverage on the contents allows for the full replacement without taking depreciation following a covered loss. Homeowners can add Identity Theft coverage, Water Back-Up/Sump Pump Failure coverage, Ordinance or Law Coverage which allows for the additional costs to rebuild/repair according to new town codes which may have been put in place since the original construction of the home and schedules for valuable articles, which requires current appraisals. There are other additional endorsements available which are applicable to particular scenarios that are present in the lives of our customers.

    Hopefully this brief synopsis of a homeowner policy provides an overview so that you can review your coverages with a little more insight. Learn more about home insurance here.

      Top 10 Things to Know about Homeowner's Insurance Home Quote Request

    Donna Bellavance

    Tags: home, liability, premium, HO-3, HO-5, homeowner, open perils, named perils, dwelling, dwelling limit, ho3, limit, ho5

    Dogs and Insurance: Breeding Trouble

    Posted by Gordon Atlantic Staff

    Thu, Aug 29, 2013 @ 11:44 AM

    Cover your dog cat pets with personal health insurance from Andrew G Gordon IncDid you know that about one third of liability claims are about or related to dog bites? That's a significant percentage when it comes to claims, which is why insurance companies have a very firm stance on home insurance when it comes to dogs.

    High Risk Breeds

    Behavior of any animal is largely due to genetics. We can have the nature vs nurture biology debate some other time, but you can't deny if one breed bites more than another, genetics are playing a serious role there.

    Because of this, dog breeds with a history of dog bites are most likely to be outright refused by certain insurance companies. Or, if insurance is not denied or cancelled, companies are allowed to increase your premium.

    Here is a listing of some of the high risk breeds that insurance companies tend to refuse to cover or will cover at a more expensive rate:

    • Protect your dog cat pets with personal health insurance from Andrew G Gordon IncGerman Shepherd
    • Rottweiler
    • Doberman pinschers
    • Pit bulls
    • Staffordshire terriers
    • Chow chow
    • Akita
    • Presa canario
    • Great Dane
    • Siberian husky
    • Alaskan malamute
    • any sort of mixed wolf breed

    What Can You Do?

    Fortunately, you can do a lot of things to keep your insurance. There are some companies that do not discriminate against breed, but certain documentation must be obtained by veterinarians or from dog obedience school. Steps such as these will only aid you when it comes to purchasing insurance.

    You can also help your dog out by taking certain steps. By socializing your dog at an early age the dog becomes more receptive to social interaction and less likely to bite. But remember, if any dog is provoked or put into an uncomfortable situation, that dog's aggressive chomper is more like to make a debut- hopefully not with a person.

    Insure your pets in case of health issues with personal insurance from Andrew G Gordon Inc

    For more information on dogs, check out our other informative dog blogs. Having a dog is a huge responsibility, and if you already have one or are considering getting one, the more you know, the better.

    Our agency, Gordon Insurance, quotes with several companies that allow for dogs and insurance to be in the same policy. Other companies we quote with will allow the dog but will exclude dog-related claims. Either way, we will be able to find the best price for the best coverage- just send us an online form or contact us another way. Learn more about personal insurance here.

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    Tags: home insurance, dog, liability, pet, liability claims, dog breeds, breed, great dane, husky, pit bull, genetics, nature vs nurture, obidience school, veterinarian

    10 Commandments of Insurance

    Posted by Gordon Atlantic Staff

    Wed, Aug 28, 2013 @ 09:18 AM

    If you're going to do insurance, you should do insurance right. Here we've compiled the 10 Commandments of Insurance.

    Never miss an insurance online payment with Andrew G Gordon Inc1. Thou shalt not miss a payment

    There are so many payment options available, including electronic payments, that an insurance payment should never be missed. If you miss a payment, your policy may be canceled.

    2. Thou shalt drive safely

    Road rage, reckless driving, distracted driving- all bad. Drive as safely as possible to avoid accidents and bodily injury. Maybe you should increase your property damage if you aren't going to be the safest driver. Better safe than sorry.

    Take care of your house property with homeowners insurance for home from Andrew G Gordon Inc

    3. Thou shalt take care of property

    A lot of work goes into maintaining a property. There are a bunch of underrated dangers that should be taken care of. You must also actively do things such as repair roof shingles, organize your items, take care of puffbacks, and the like. Having insurance is one thing, but letting your home go to shambles is something completely different.

    4. Thou shalt take care of health

    Health is very necessary to live a good and happy life. On top of doing things to take care of oneself, such a wearing sunscreen, staying properly hydrated, and being cautious to over-the-counter medications, life insurance is a must. People might wonder why life insurance should be pursued, but it's one of those things that's well worth it. For more information on life insurance, click here.

    5. Thou shalt know the laws

    Obey driving laws with auto insurance for your car from Andrew G Gordon Inc

    There are a lot of laws out there that should be known. There are a lot of minor violations that can affect auto insurance, as well as some laws that are specific to junior operators (passenger restriction, time restriction, etc.). Following these laws can keep one out of legal trouble as well as insurance trouble.

    6. Thou shalt actively understand insurance

    Make sure you know what type of coverage you have. There's a difference between collision and comprehensive coverage, and the difference is huge. Knowing your insurance vocabulary is an important step.

    7. Thou shalt take advantage of available discounts

    There are so many discounts available! Why not take advantage of them? You could take extra driving classes, install an alarm, bundle your policies, etc. The point is, if you can pay less for the same exact policy, why wouldn't you?

    8. Thou shalt not lie

    If you do not provide accurate information when receiving a quote, a policy might be issued and all, but the policy will not adequately cover what you need covered. If you face a home insurance inspection, there's no way you can lie about things of that nature. Another bad example of lying is having a trampoline on your property if your insurance company doesn't know about it. Be truthful for correct coverage.

    Take care of your pets with health insurance from Andrew G Gordon Inc9. Thou shalt take care of pets

    Dog bites attract a lot of liability claims. With that being said, make sure your pets are taken care of. There are many dangers that pets can face, and you should know them in order to keep your best friend safe.

    10. Thou shalt be prepared

    In the case of natural disasters or storms, one should take advantage of storm and hurricane resources that Gordon Insurance has made available to them. You don't want to regret things after the storm, and by being prepared, you don't have to.

    For more insurance information or to get a quote click the buttons below. If you have any other insurance questions, do not hesitate to contact us here at Gordon Insurance. Learn more about personal insurance here.

    INSURANCE QUESTION?

    Tags: home insurance, home, auto, liability, Auto Insurance, dogs, driving safety, money, commandments, things to know about insurance

    Will My Insurance Cover a Trampoline?

    Posted by Gordon Atlantic Staff

    Wed, Jul 10, 2013 @ 10:03 AM

    Know how your homeowners insurance agency deals with trampolines Andrew G Gordon Inc

    Have you been thinking about getting a trampoline? Have your kids been bothering you to get one for that oh-so magical bounce? And if so, have you thought about how a trampoline purchase could affect your insurance?

    Insurance companies tend to deny insurance to homes with trampolines because trampolines pose  many risks, some severe, to many who use them.   Every year, more than 100,000 injuries occur by trampoline, and approximately 20% of all spinal cord injuries are caused by trampolines. (Source: LiveStrong.com)

    For a more detailed infographic on trampolines see https://trampolinefirst.com/trampoline-injuries/

    Trampoline Risks

    • Jumping up and down on a trampoline can cause bodily injury, but some injuries can be very severe. Sprained ankles, broken bones, and even paralysis can result from a dangerous jump on the trampoline.
    • Trampolines vary in size, but generally they aren't that large. For parties or gatherings of other sorts, having too many people on a trampoline not only ruins the fun (less bounce), but also increases the risk that a jumper will get hurt. Since collisions are one of the most severe csuses of injuries, we recommend that only one person should use a trampoline at a time.
    • In the insurance world, trampolines are known as an "attractive nuisance." This means that uninvited guests, such as neighbors, have the ability to use trampolines without permission of the owner. If these unwelcome visitors get injured, they can still sue you for their injuries. Severe cases can get expensive.

    Insurance and Trampolines

    Understand how trampolines affect home insurance with homeowners from Andrew G Gordon Inc MA

    Whenever you switch insurance companies, or  your first time buying a home, generally you will get a home insurance inspection. When you get an inspection, if a trampoline is found on your property you often will have two options: 1) Get rid of the trampoline or 2) lose your insurance.

    Some carriers, however, now insure trampolines with safety nets.  Call our office for guidance on this tricky issue.

     

    Alternate Solution

    You don't have to have a trampoline to have fun. If you're really itching for some jumping, try to find places such as SkyZone or any other indoor trampoline park. They have the trampolines for you. Yes, you will have to sign a waiver for your injury, but you do have attendants near every trampoline and the environment is much more controlled. Plus, you also get to keep your home insurance!

    My personal recommendation would be to think long and hard about getting a trampoline. Nobody's going to stop you, but it's good to know what risks come with getting one. You should always check with your insurance agent BEFORE purchasing a trampoline: this way, you can know what you're getting yourself into.

    Any other questions?   Contact us. Or, read more about home insurance here.

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    Tags: children, outdoors, safety, exercise, liability, outdoor safety, trampoline, liability claims, backyard, front yard, yard, spring safety, jumping, trampolines and insurance

    What is a Personal Umbrella Insurance Policy?

    Posted by Val Feeney

    Mon, Oct 15, 2012 @ 04:50 PM

    Learn what a personal umbrella insurance policy covers with andrew gordon inc norwell ma

    An Umbrella Policy provides liability coverage above and beyond your first line of legal defense, which is usually your homeowners and/or auto policy. These both offer liability coverage to protect you against the cost of a lawsuit. The umbrella policy provides additional levels of insurance in case something really bad happens and the lawsuit is big.

    If a guest is at your house and is injured, you may be sued for damages including medical expenses, pain and suffering, loss of earnings and other damages. Your homeowners policy (Part E. Personal Liability) will typically cover you for up to $300,000 or $500,000. If you are sued for more than your coverage amounts, you become personally responsible for the difference. 

    An umbrella policy protects you in these bad case scenarios by adding an additional layer of coverage that sits on top of the underlying home or auto limits. Umbrella policies can be bought in amounts of $1M, $2M, $3M, $5M, $10M, and even greater. Relatively speaking, they’re not expensive.

    To purchase an umbrella policy you must have sufficient underlying limits on your home and auto policies first. For the homeowners insurance you generally need a minimum of $300,000 under Part E. For your auto insurance, most carriers require at least $250,000 per person and $500,000 per accident in Optional Bodily Injury coverage (Part 5). Different companies have different underlying requirements, so coordinating these properly is important.

    Learn about liability and personal umbrella insurance coverage policies with brokers and agents at andrew gordon inc insurance norwell ma

    Umbrella policies vary in price depending on several factors: how many homes you own; how many cars you have; number of drivers in your household; any youthful drivers; driving records; and any owned watercraft. The price can be as low as $150 and the umbrella policy might be written as a stand-alone policy or added to your homeowners policy. Whenever possible, it’s best to have all these policies with the same insurance company.  Given a complicated accident where you exceed those underlying policy amounts, you don’t want to switch defense teams mid-stream if the insurance carriers are different. 

    If you own a second home, a business, any rental properties, or other substantial assets, it is particularly important that you have an umbrella policy.  With assets like these, you're perceived to have a deep pocket and you have multiple exposures that could result in a claim. Lawsuits are on the rise in the United States, and so are your odds of being named a defendant. It is wise to protect yourself with this extra layer of coverage.

    Call the Gordon Atlantic Insurance professionals to discuss a personal umbrella further by calling us toll free at 1-800-649-3252. Prefer to type versus talk?  Click below! 

     

    HAVE A QUESTION?


    Val Feeney

    Tags: personal, policy, insurance, umbrella, coverage, liability, protection, lawsuit

    In the Doghouse

    Posted by Gordon Atlantic Insurance

    Wed, Aug 15, 2012 @ 11:38 AM

    Understand your dogs impact on your insurance with homeowners from Andrew Gordon Inc Norwell MAFor many homeowners, a dog is a cherished member of the household; according to the Humane Society of the United States, there are 77.5 million household dogs in the U.S., a whopping 39 percent of all households. Normally, human-dog interaction is a positive experience for both animal and person, but lately, dog-bite statistics have been increasing. Dog bites accounted for more than one-third of all homeowners insurance liability claims paid out in 2009, costing $412 million and up 8.70 percent from 2008, according to the Insurance Information Institute.

    More than 4.7 million people in the United States are bitten by dogs annually, and nearly 900,000 of those, half of them children, require medical care, according to the Centers for Disease Control and Prevention (CDC). Of those injured, 386,000 require treatment in an emergency department. The rate of dog bite related injuries is highest for children aged five to nine years old; the rate decreases thereafter. With more than 50 percent of bites occurring on the dog owner’s property, the issue is a major source of concern for insurers.

    Dog Owner Liability

    Insure your home and pet dog with homeowners from Andrew Gordon Inc Insurance Norwell MA

    There are three kinds of law that impose liability on owners:

    1. Dog-bite statute: The dog owner is automatically liable for any injury or property damage the dog causes, even without provocation.
    2. “One-bite” rule: In some states, the owner is not held liable for the first bite the dog inflicts. Once an animal has demonstrated vicious behavior, such as biting or otherwise displaying a ‘vicious propensity’, the owner can be held liable. Some states have moved away from the one-bite rule and hold owners responsible for any injury, regardless of whether the animal has previously bitten someone.
    3. Negligence laws: The dog owner is liable if the injury occurred because he or she was unreasonably careless (negligent) in controlling the dog.

    The owner of a dog, however, is not liable if the dog injures a trespasser.

    The CDC recommends the following steps regarding human-dog interaction:

    • Train your dog to help with your homeowners insurance rates with Andrew Gordon Inc Norwell MAConsult with a professional (e.g., veterinarian, animal behaviorist, or responsible breeder) to learn about suitable breeds of dogs for your household and neighborhood.
    • Spend time with a dog before buying or adopting it. Use caution when bringing a dog into a home with an infant or toddler. Dogs with histories of aggression are inappropriate in households with children.
    • Be sensitive to cues that a child is fearful of or apprehensive about a dog and, if so, delay acquiring a dog. Never leave infants or young children alone with any dog.
    • Have your dog spayed or neutered. Studies show that dogs are three times more likely to bite if they are NOT neutered.
    • Socialize your dog so it knows how to act with other people and animals.
    • Discourage children from disturbing a dog that is eating or sleeping.
    • Play non-aggressive games with your dog, such as “go fetch.” Playing aggressive games like “tug-of-war” can encourage inappropriate behavior.
    • Avoid exposing your dog to new situations in which you are unsure of its response.
    • Never approach a strange dog and always avoid eye contact with a dog that appears threatening.
    • Immediately seek professional advice from veterinarians, animal behaviorists, or responsible breeders if the dog develops aggressive or undesirable behaviors.

    Using these strategies should hopefully allow your personal relationship with Fido to be a positive one.

    For the full article, click here.

    At Gordon Atlantic, we have an opportunity to work alongside many outstanding businesses, one of which is Trouwe Hond, a professional dog training and kennel business that is truly top in its class. If you have a dog, check out their site.

    INSURANCE QUESTION?

    Corbin Foucart

    Tags: house, home, dog, property, insurance, dog training, obedience, trainer, stop biting, liability, homeowners

    7 Tips for Proper Trailer Care

    Posted by Gordon Atlantic Staff

    Thu, Jun 21, 2012 @ 02:43 PM

    Take proper care of your trailer and insure your vehicles with auto from Andrew Gordon Inc Insurance Norwell MAIt is summer time and we are hitting the roads, lakes, ponds, and some of us are going to horse shows. This means that we are pulling all sorts of trailers behind our vehicles.

    If your trailer is being pulled by a vehicle on your Personal Auto Policy, liability coverage follows automatically. If you want to have Comprehensive or Collision Coverage for the trailer, there will be an additional charge. If your trailer is being pulled by a Commercial Auto Policy it must be added to that policy for the trailer to have liability coverage.

    Before you take your trailer out on the road, there are a few things that should be checked.  Below is a list of things that should be done:

    1. Tires

    1. Tire tread can be checked with a penny.  The rule of thumb on tread depth is to use a penny and if it reaches the top of Lincoln’s head, it is ok.
    2. Tire pressure should be as per specific tire/vehicle specification as on the tire, the door jam of the vehicle, of very often it is on the trailer itself.
    3. Be sure that actual tire trailers are used, not vehicle tires.
    4. Look carefully for any dry rot/cracking on the side walls of the tires.

    Make sure your trailer is covered with auto from Andrew Gordon Inc Insurance Norwell MA

    2. Bearings should be checked for adjustment

    and repacked on boat trailers at least once a year and on other trailers at least every two years.

    3. Brakes

    1. Need to be in proper adjustment
    2. Brake battery is charged and in working order
    3. Run-away brake switch works
    4. Brake controller working properly

    4. Lights

    – be sure that all running, brake, and directionals are working properly.

    5. Grease and oil all hinge pins at least once a year so they do not bind.

    Take good care of your trailer with these tips and auto from Andrew Gordon Inc Insurance Norwell MA

    6. Floor

    – check that all floor boards and cross members that support the floor boards are not broken or cracked. If there are mats in the trailer, be sure to check underneath them.

    7. Extra equipment

    1. Chock blocks for when trailer is parked
    2. Reflectors in case of a break down
    3. Lug wrench that fits trailer lugs
    4. If your tires have locks on them be sure to know where the key is kept
    5. Jack or ramp/tire chock that works to lift trailer in case of a flat

    If you are diligent on checking things on your trailer, it can have a long safe life. 

     If you're looking to insure the car you use to tow, check us out at www.agordon.com and contact us with any questions, or get a quote and see how much you can save with us. Learn about personal insurance here

    Happy Trailering and Happy Summer!

    INSURANCE QUESTION?

    Tags: summer, commercial, auto, policy, tow, insurance, trailer, horse, liability, car, collision

    Liability Issues: Safety Around Your Home

    Posted by Donna Bellavance

    Wed, Apr 25, 2012 @ 05:52 PM

    Liability issues and claims are proving to be more costly than actual physical damage losses under homeowners insurance policies. 

    Be aware of the many hazards your home may have with personal and homeowners from Andrew Gordon Inc Insurance Norwell MAAccording to the Center for Disease Control there are 4.7 million dog bites each year, and 50% occur on the residence premises. According to the Insurance Information Institute, dog bites or dog-related injuries account for approximately 1/3 of all homeowner liability claims, and the average cost is more than $37,000. Carriers often decline writing coverage if there are particular breeds within the household, such as Bull Dogs, Pitbulls, German Shepherds, Akitas, Rottweilers, Doberman Pinschers, Siberian Huskies, and others that may exhibit aggressive behavior or have previously had a biting history.  Some companies may accept such a breed if they are provided evidence of the dog’s participation in an obedience training course.

    Another major issue of concern for homeowner carriers are swimming pools, since drowning is the leading cause of fatal injury to children between the ages of 1 and 4. Homeowners are required to comply with local regulations regarding the pool such as fencing and locked gates.  It is also worthwhile to note that homeowners can be held liable for injuries to strangers using their pool without permission.

    Trampolines account for over 100,000 emergency room visits per year according to the Consumer Product Safety Commission. Companies can refuse to provide coverage for homes that have trampolines on the premises or may place exclusion clauses or require safety measures, such as nets surrounding the apparatus.

    trampoline pic

     
    The National Safety Council has reported that falls account for 26% of injuries and deaths in the home. Approximately 2.8 million children were treated in the emergency room last year for fall injuries. Tree houses have been the cause for many of these injuries due to the height of these structures, so carriers may exclude or decline coverage, or apply a surcharge for these risks. 


    Homes with guns on the premises increase the risk of homicide by 40% according to the New England Journal of Medicine. Insurance companies require that guns remain properly secured with safety locks and kept out of the reach of children.

    Heating fires account for approximately 36% of home fires. Since many insurance customers use wood stoves as a secondary source of heat, companies now require proof that these were properly installed, adhere to town building codes, and have been inspected.

    Other causes of potential declination of coverage are the presence of zip-lines and exotic pets at the home.

    Homeowners (and renters!) should make it a point to discuss with their agents if any of the above situations apply to them. It is not worth jeopardizing coverage or having a liability claim denied if the carrier was never made aware of all exposures. To discuss your own liability safety, call a Gordon Atlantic Insurance professional toll free at 1-800-649-3252. Prefer to type versus talk? Click below!

      INSURANCE QUESTION?  

    Tags: home, dog, fall, safety, homeowners insurance, insurance, massachusetts, liability, animals, trampoline, pool, agent, tree house, gun, fire places, wood stove, zip line, swimming, bite

    Do I Need Insurance on My Condo?

    Posted by Val Feeney

    Wed, Oct 12, 2011 @ 04:39 PM

    If you own a condo, it is essential that you have your own insurance policy, commonly known as an H0-6.  Depending on your Condo Association’s master insurance policy, the amount of coverage you may need will vary.

    Condo Association's Master Policy

    Learn about the importance of having condo insurance with us at Andrew Gordon Inc

    There are two types of master policies that your Condo Association can put into place: “All Inclusive” or “Bare Walls.”  The majority of Condo Associations have been using “All Inclusive” approach because they cover the entire condominium complex. This type of policy will cover damage to individual condos and common areas, as well as include liability protection for the association. So, if your condo is part of the building that is destroyed in a fire, the master policy would cover the rebuilding of your condo. A “Bare Walls” master policy will only cover the basics if the entire building is destroyed, leaving the construction of your condo up to you. Thus, the most important question for your condo association is, "do we have Bare walls or All-in?". The answer can be found in your deed, and we can assist you with determining this.

    Neither of these policies, however, cover your own personal property or personal liability. This is an important fact that all unit owners need to know, to arrange proper protection.

    Dwelling Coverage

    Even if your Condo Association has an “All Inclusive” master policy, you may want to get some level of dwelling coverage to cover any improvements you may have made to the condo, further increasing its value over the average unit in the complex.  The Condo Association will determine the proper amount of insurance to get on the master policy for the entire building, but if it is insufficient, you can also include your own "assessment" protection to fall back without having to sacrifice your equity in the property.

    Personal Property

    If your condo is damaged or destroyed by a storm or fire, the building would most commonly be covered under the master insurance policy (The associations' policy).  But what about your flat screen television, your brand new iPad, laptop, couch, bed, pictures, art work, kitchen appliances, and all of your clothes? Your condo association is not responsible for your stuff, you are.  Think about all of the stuff you own in your condo, if it was all taken from you, how much would it cost to buy all of it brand new, $30K? $50K? $100K? Regardless, you’d most likely be unable to immediately replace everything out of your own pocket. A condo insurance policy can cover the expenses to replace all of your stuff right away.

    Personal Liability

    If someone is hurt in your condo, you could be sued. It’s not the most pressing thought on your mind when you first buy a condo, but the threat of being sued is very real. For example, you have friends over for a party and people are leaving at the end of the night. On the way out of your condo, a guest trips over a coffee table, and, God forbid, becomes permanently disabled. Chances are, you are going to be sued. Do you have insurance protecting you?  If you do not have a condo policy, you could be in real trouble. The court could potentially come after all of your assets and even your future earnings. A typical condo policy will protect you in such a settlement up to the limit you've chosen, most commonly $500,000 in damages, including a defense team provided by the insurance company.

    In conclusion, it is very important for a condo owner to know that even though the condo association has an “all inclusive” master policy, it does not protect your personal property or personal liability. With your own policy in place, you are protected financially and can sleep easy at night. 

    At Gordon Insurance, we "Make Insurance Make Sense." For a free professional review of your policy and quote, please contact us at Andrew G. Gordon Insurance.

    Learn more about your condo insurance options here

      Condo Quote

    Val Feeney

    Tags: personal, property, H0-6, ho6, h06, condo association, bare walls policy, coverage, liability, dwelling

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