Homeowners, Renters or Condo: Which Questions Should You Ask?

Begin with the place you call home

A homeowner, renter and condo owner may all want protection for belongings and liability, but the building itself creates different responsibilities. Instead of treating these policies as interchangeable, start by asking what you own, what another party insures and what would be hard to replace after a loss.

Homeowners: look at the building and beyond

Homeowners often begin with the dwelling, other structures, personal belongings and liability. If you've renovated, added a room or made a significant purchase, ask whether your current limits still reflect the property and what you own. Review your deductible as well; it affects both the premium and what you may pay after a covered loss.

Ask which kinds of losses are covered and which require separate protection or have limitations. Your policy documents, not a general article, determine your actual coverage.

Renters: don't assume the landlord covers your things

A landlord may insure the building, but that doesn't mean your personal belongings or personal liability are covered. Make an estimate of what it would cost to replace your possessions, and ask what situations your proposed renters policy addresses.

If you own a condo, obtain the association's insurance summary when you can. Its scope may affect what coverage makes sense for your unit, improvements and belongings. Ask how your own policy and the association's policy fit together.

Consider the bigger picture

If you're concerned about liability limits across several policies, you can also ask about umbrella coverage and its underlying-policy requirements. A move, renovation or new purchase is a useful prompt to revisit the whole picture.

Barber Agency helps customers throughout Ohio explore home, renters, condo and umbrella insurance. Tell us what you'd like to protect, and we'll follow up for the details.