Home Insurance for High Rise Condos? Necessary or not?
Condo owners and buyers in Winnipeg are asking: If I own a high-rise condo building, and I see that my condo fees already include insurance, will I still need to buy home insurance in addition to that?
This is Bo Kauffmann of Remax performance realty.
And today I'm going to answer the question that condo buyers sometimes have. And the question is "if I buy a high rise condo, and I can see in the condo documents that building insurances is included in it, will I still need to buy insurance on top of that"?
And the answer is yes you do. You'd need additional insurance basically for three things, one is called betterment and improvements of the inside of the unit. One part is for your contents and the third one would be for your liability. But the real good news here is that this type of insurance is much less costly than house insurance. So this is one of the ways that you're actually going to save a little bit of money by buying a condo.
Because you don't have to insure the whole building. Condo insurance tends to be less than half. Perhaps a third of what regular house insurance would be.
But the best thing to do would be to check with your insurance broker.
And if you need one of those. I've I've got a good one. So give me a shout it spoke often. Remax performance realty 204-333-2202. To next time, bye for now.