Owning a condo is a great way to enjoy a beautiful community with shared amenities without the standard upkeep of maintaining a home. However, a disaster can quickly lead to damage to your personal belongings, including your appliances. In some cases, your policy can help replace them. 

Covered Perils

Most condo insurance policies in Plymouth, MN cover an owner’s personal belongings, including appliances. However, the policy will only cover the replacement cost if they are damaged due to a covered incident. Speak with an agent at Anchor Insurance Agency LLP to learn more about what’s covered by your policy. 

Which Policy Covers Replacement?

Most buildings have a master’s policy that covers shared amenities, such as the roof or tennis courts. In some cases, this policy will cover built-in appliances, such as a dishwasher. Other times, these are strictly the owner’s responsibility. Speak with your HOA or building owner before filing a claim to make sure you file a claim with the right company. 

Deductible

You’ll have to pay a deductible before your policy kicks in to help cover the replacement cost. Consider the extent of the damage, whether the appliances are still usable, and your deductible. Then, decide whether you want to file a claim. If the replacement cost for a stove is only $500 and your deductible is also $500, it’s usually not worth filing a claim. 

Agents here at Anchor Insurance Agency LLP can help you learn more about your policy. Contact us today. Representatives can help you learn how to file a claim, whether appliances are covered, and which policy is supposed to cover them. We’re currently serving the Plymouth, MN area.