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Lewisville fortis health insurance temporaryAre improvements I have made to my unit covered under the association policy? When you buy a condominium, you give up some of the rights to do with you property as you please. For example, you probably can’t paint the exterior walls of your unit hot pink when the rest of the complex is brown. However, when it comes to the interior of the Lewisville fortis health insurance temporary premises, your home remains when it comes to the interior of the premises, your home remains your castle. Do you want to install a special tile floor? Just write the check. Do you want to install special bathroom fixtures? Most bathroom fixture showrooms take Lewisville fortis health insurance temporary (but it is OK to pay cash and save money on interest too!). The only problem in improving your home in this way is that you may find that your all-new-and-improved condo is only protected for loss by the association policy as if it were still the old, unexciting unit. Thus, you will want to make sure your Lewisville fortis health insurance temporary policy picks up the clack between the actual cost of the loss and the amount that will be paid for by the association policy. Am I covered for loss assessments? If the policy taken out by the association is not sufficient to pay for the entire cost of repair or rebuilding of the common areas, you could be asked to pay your proportionate share of the amount not paid for by insurance (loss assessment). In a serious catastrophe, the loss assessment could run into big Lewisville fortis health insurance temporary bucks. Consumer Alert: When you buy an endorsement to cover loss assessments, you must name the specific portions of common area for which you want the extra coverage. So, when you discuss the matter with your agent, be sure to bring a list of the areas you believe may be expensive to repair. The basic individual condominium policy protects you for up to $1,000 in coverage if the loss assessment is require due to damage covered by insurance. That may not be enough. Sometimes loss assessments can be staggering. For example, assume a clubhouse is destroyed along with exercise and weight-lifting equipment and a sauna. If the association policy only pays to restore the premises but not the equipment, you could be hit for a loss assessment far in excess of $1,000. In such cases, you can increase the protection your individual Lewisville fortis health insurance temporary policy provides by paying a little extra in premiums. Consumer Alert: As an informed consumer, you should be active in your condominium association. As this discussion illustrates, the decisions made by the association directly affect you. This includes matters of insurance coverage. The better the commercial policy the association buys, the less you will have to pay for adequate individual protection.
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