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300 S. Park Ave, Ste. 903
Pomona, CA 91766

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Will my condo insurance cover the flood damage in my condo?

Condo owners have unique concerns about what’s covered by condo insurance. Although they own their unit, they don’t own the exterior or common areas of the condo. As a result, it’s often difficult to determine who’s responsible for what. Some forms of damage aren’t covered by your condo insurance or the condo association. Our team at THINK Insurance & Financial Services is invested in helping Pomona, CA condo owners understand what’s covered and what’s not.

What Does Condo Insurance Cover?

Typically, condo insurance covers the repair of your condo and provides financial compensation for repairing or replacing your damaged personal items. However, there are situations where damage or replacement may not be covered under your condo policy. Damage to your personal items or unit caused by burst pipes from another unit, or some other issue that affects your unit, should be covered by the condo owner responsible for the damage. The condo association may cover damage caused by circumstances outside your unit.

Will My Condo Insurance Cover the Flood Damage in My Condo?

Condo insurance will cover damage from pipes that burst inside your unit and various other forms of water damage expressly covered under your policy. However, condo insurance will not cover flood damage. Flood insurance will cover any damage caused by flooding. If you live in a flood zone, investing in a flood insurance policy is wise because your condo insurance will not cover flood damage. If you have questions regarding condo insurance, call us. We can help you explore your options.

Will renters insurance cover my roommates’ belongings?

Renters insurance can create peace of mind for renters in the same way that homeowners insurance can. Renters insurance can cover your personal belongings as well as theft and a variety of other different situations. THINK Insurance & Financial Services wants Pomona, CA renters to understand the benefits of renters insurance.

What Does Renters Insurance Cover?

The policyholders are the only people covered by a renters’ insurance policy. Renters’ insurance covers damage to your personal items, damage from natural disasters, injuries, theft, and much more. Your renters’ insurance policy will even cover injury or damage to a visitor’s personal belongings while visiting your home. Your personal items are covered even if they are stolen from your car. Renters insurance is a good investment for any rental property you reside in. This includes dorms, apartments, or even a rented house. Although your renters’ insurance policy would cover your personal belongings if they were stolen from your car, it wouldn’t cover any damage to your vehicle.

Will Renters Insurance Cover my Roommates’ Belongings?

Unfortunately, renters’ insurance only covers your belongings, not your roommates.’ Your roommate must be on your renters’ insurance policy to be covered. However, your liability coverage would provide for the repair, replacement, or injury of a guest that sustained an injury or damaged belongings while visiting your home. Your roommate would need to get a renters’ insurance policy to have coverage or be added to your policy. If you have questions about renters insurance and are considering investing in it, call us. We’d be happy to help you explore renters insurance and find the best policy for your unique situation. 

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