Condo Insurance in Phoenix, AZ
Driven Insurance Services offers condo insurance, also known as an HO-6 policy, for condominium owners in Arizona. Condo owners have unique requirements that differ from traditional homeowners. A condo insurance policy may include coverage for:
- Your personal property, such as furniture, electronics and clothing
- Interior features of your unit, including flooring, cabinetry and fixtures
- Liability protection if someone is injured in your condo
- Additional living expenses if your unit becomes uninhabitable due to a covered loss
It’s important to note that your condo association’s master policy typically covers only the building’s exterior and common areas.
Why Is Condo Insurance Important?
Unexpected events may occur at any time, and a condo policy helps cover losses not included in your association’s policy.
Additionally, many mortgage lenders require proof of condo insurance before closing on a unit. Even if it’s not required, carrying a policy can help you reduce out-of-pocket expenses.
How Much Does My Policy Cost?
Several factors can affect your rates, including:
- Location: Premiums may be higher in areas prone to severe weather, theft or higher rebuilding costs.
- Coverage limits: The amount of coverage you choose for personal property, liability and additional living expenses will impact your rate.
- Deductible: Selecting a higher deductible can lower your premium, but means you’ll pay more out of pocket if you file a claim.
- Building features: Security systems, fire alarms and updated building materials may qualify you for discounts.
- Claims history: A history of frequent claims may increase your premium.
- Personal factors: Your credit score and insurance history can also play a role in determining your rate.
How Driven Insurance Services Supports Local Condo Owners
Contact Driven Insurance Services today for more information and to get a free personalized quote.