• The Walker Agency Condominium Insurance in New Mexico

walker condo insuranceCondo Insurance: What are the Coverage Fundamentals?

Wherever your condo may be in New Mexico, be it near the Aztec Ruins or near Santa Fe, it's important to make sure you have the right coverage. If you live in a condominium, your Condo Association probably provides some level of rudimentary insurance coverage. Typically, condo association coverage is limited to one of the following three types of policy:

  • Coverage for the complex’s primary building and common areas
  • Coverage for each building and for items within each unit considered to be property of the condominium complex
  • Coverage for each building, each individual unit, and for any fixtures or improvements to the unit made by the occupant

This usually and basically means the building's exterior is covered by the Condo's Association, but you are still responsible for the contents inside. This is where The Walker Agency comes in.

What Does Condo Association Insurance Cover?

Condo Association coverage typically does features a small level of personal liability coverage. For most occupants, however, this coverage won’t offer sufficient protection against every possible liability.

For example, if one of your guests suffers an injury or property damage while in your condo, association condo coverage may not be sufficient to cover the damages—especially if you get sued and end up having to pay costly medical bills. Additionally, condo occupants themselves get no coverage at all for injury or property damage.

Know Your Condo Association Coverages

If you’re a condo owner, it’s crucial to know the types and amounts of courtesy coverages provided by your condo association. Understanding those built-in coverages will help you make informed choices regarding condo insurance and the coverages you need from The Walker Agency to gain maximum protection.

Condo Insurance Protects Your Assets

For most people, buying a condo represents one of the largest investments they’ll ever make. You wouldn’t dream of carrying insufficient coverage on your house, and sufficient condo coverage is just as important. Without it, you stand to lose almost everything in a disaster. Like solid home insurance, a comprehensive condo policy protects your assets, allowing you to more-easily recover and get back to a normal life when disaster strikes.

What Does Condo Insurance Cover?

With sufficient condo coverage, you can protect your condo from fires, wind and hailstorms, lightning strikes, theft, and other events not covered by the condo association coverage. Without the proper insurance policy from The Walker Agency, can you afford to rebuild the interior of your condo from scratch? Your policy through The Walker Agency will help assure you can cover the cost of repairing or replacing items following a covered incident.

What Are Condo Insurance Exclusions?

As with home insurance policies, condominium insurance doesn’t cover specific peril types:

  • Floods
  • Earthquakes and mudslides
  • Settling
  • Natural deterioration and neglect
  • Birds, rodents, insects, and domesticated animals

Multi-Policy Condo Insurance Discounts

If you purchase condo insurance through The Walker Agency, you may be eligible for discounts if you’re an existing Walker Agency policyholder. Whether you’re an existing customer with The Walker Agency or not, ask about multi-policy discounts when you bundle condo insurance with any of our other policies.

Contact The Walker Agency of NM for a Free Condo Insurance Quote

If you’re shopping for condo insurance anywhere in New Mexico, we’d be thrilled to hear from you. As an independent New Mexico insurance agency, we offer free, comparative quotes on Condo Insurance from multiple topnotch insurance carriers, meaning you’ll get the best possible rate.

At The Walker Agency, we have the experience and insurance companies to make sure you have all of what's important to keep you protected. If you’re ready to see how much we can save you on condo insurance, call The Walker Agency today at our Grants location (505) 287-4432 or at our Farmington location (505) 326-4952. Or for a free online condo insurance quote, just fill out the "get a quote form" on our contact page.