4 Ways to Reduce Condo Insurance Costs Published
Condo insurance costs may be going up for some condo owners. In today’s economic climate, the average consumer’s credit score and history are going through the shredder. And the salt in the wound: insurance costs are usually affected by a person’s credit. What does this mean for condo owners? It means that if their credit gets bad enough, their condo insurance premiums will skyrocket.
A person with less-than-stellar credit is probably not in a situation where they can afford high condo insurance costs. But not all is lost, according to a recent InsuranceAgents.com article, ‘Top 4 Easy Ways to Lower Condo Insurance Costs.’ There are still some simple, no-nonsense ways to find more low-cost condo insurance.
A few easy ways to save money on rates are to be a safer homeowner (i.e. being a nonsmoker reduces the risk of a fire erupting in a condo); seeking discounts; and getting condo insurance quotes.
“By shopping for condo insurance quotes, you are drastically increasing your chances of finding a reliable policy with a lot of coverage at the lowest available rate. The fastest way to find condo insurance quotes is to take five minutes of your time and apply for them online,” the article states.
Another way to lower costs is to avoid insuring your condo for full replacement coverage. Unlike homes, condos do not have to be insured for full replacement value.
“Your unit is insured by your condo association’s policy,” informs the article. “The only condo insurance coverage you need is personal belongings/furnishings/upgrades and liability.”
For more information on condo insurance, ways to save, and how to find condo insurance quotes, visit InsuranceAgents.com.
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