Renter / Condo Insurance
Your home is probably your most precious asset and we understand this. Our local experts who will go out of their way to help you choose the right coverage for your unique situation.
ERM Insurance Brokers is a local, independent agency that specializes in home, auto, and all other forms of personal insurance. ERM has with relationships with dozens of different insurance carriers and can help you find the best coverage at the right price. You don’t have to waste your time shopping around because we do it for you. We are experts at evaluating your insurance needs and in finding the insurance company and policy for you. We will take the time to help you make the best decision.
What Does Condo Insurance Cover?
If you own a condominium, you have both common and personal insurance needs. Your HOA should have a master policy that covers the structure and any common areas (like the gym, pool, clubhouse, roofs, etc…).
Many HOAs have “bare wall” policies, which means you will be responsible for items such as paint, flooring, cabinets, your possessions and appliances. The HOA’s policy does not cover those. Condo insurance generally covers your personal possessions, structural improvements made to your living space and additional living expenses incurred due to an accident.
Once you know exactly what is and is not covered by your HOA, a personal Condo Insurance policy will help you cover your personal property. To determine the amount of coverage you need, you should estimate the cost to repair your home and the cost to replace the contents of your home. We have a form that can assist you in determining the limits you need for your personal property coverage.
We recommend insuring your personal property for its replacement cost value rather than the actual cash value. Replacement cost value will allow you to purchase the same items at today’s cost.
The Liability to Others portion of your policy covers you against lawsuits for bodily injury or property damage that you, a family member, or pets may cause to other people. The cost of litigation and any court awards, up to the limit of your policy, is covered.
Liability limits typically start at $100,000. For more coverage, consider an Umbrella or Excess Liability policy, which provides broader coverage when liability limits are exhausted in underlying policies. In the event a visitor is injured in your home, Medical Payments coverage allows the person to submit medical bills directly to your insurance company. The benefit is that expenses are paid to the injured person, up to the policy limit, without a liability claim being filed against you.
Additional coverages to consider include Unit Assessment, Flood and Earthquake coverage. If there are dames that the HOA’s insurance does not cover, they may charge you a special assessment to reimburse the damages. If you have unit assessment coverage, it can help pay for these costs. Flood and earthquake insurance is also recommended for Southern California. Your regular insurance will not cover damages caused by these events. You should protect yourself in case a flood or earthquake happens.
Insurance Packages & Discounts
ERM Insurance Brokers can help you find the best deal. Sometimes you can combine all your policies under one insurance carrier. We know the fine details of each company and their policies and can help you find the best deal for your individual situation.
Your Personal Claims Advocate
Dealing with an insurance claims can sometimes be confusing and frustrating. It pays to have an advocate on your side. We are experts in the industry and understand the coverages, exclusions and the whole claims process. We will make sure you are treated fairly.
Annual Insurance Coverage Reviews
Circumstances change and what may have been the right decision previously may not be now. You should review your coverage every year, but most people do not have time or remember to do this before their renewal. Every year, we look at your information and ask you about changes in your life to determine that the coverage you have is the coverage you need. We are here to help you.