Tuesday, November 25, 2014

Protect Your Condo at the Lake

Insure the Lake has you taken care of when it comes to condo insurance at the Lake of the Ozarks. The place you live is your greatest asset and we're here to help you protect it.   Every insurance policy is different and you should consult your Lake of the Ozarks insurance agent about your specific needs.  In the event of a loss, you'll want to know that you're covered.

Points for Condo Owners to Consider

Condo owners have several areas of concern to address. Even though the condominium association has a master policy, you may still be responsible for a certain portion of the building coverage.  For example, the condo by-laws may advise that you are responsible for everything “studs-in” inside your unit.  If this is the case, you will need to cover your portion of the building and improvements and betterments to your unit under your policy.

Many unit owners have a boat slip in the association’s community dock.  If there is a loss and your lift is damaged, coverage will likely need to come from your insurance policy and not the master policy. Some companies will include the hoist to your policy’s building limit while others may include this in your contents limit.  Verify you have the right amount of coverage in both of these areas with your agent.

Assessment coverage is another issue for condo owners to consider.  This will reimburse you for special assessments passed on to you from the association.  This coverage is only available when the cause of loss is covered under the association’s master policy.

While You're Away from Your Condo

While you are away on vacation or merely at work there are a few condo protection tips you should consider:
  • Turn down the ringer on your phone while you are out.
  • Turn off the water to prevent leaks. 
  • Unplug your television, toaster, lamps and any other small appliances to protect from power surges and to save power. 
  • Set automatic timers on lights for different times in different rooms.
  • Set a timer to a talk radio station so voices can be heard in the home.
  • Put a hold on your newspaper and mail when you go on vacation.
  • Alert friends and neighbors when you will be away.

The most important way to protect your condo is to have an open line of communication with your insurance agent at the Lake of the Ozarks.  The more they know about your specific situation, the better they will be able to assess your needs and make sure you have the best protection in the event of a loss. 

Delivering all of your Lake of the Ozarks Insurance needs - Insure the Lake!
We can help you with all of your Lake of the Ozarks insurance needs. You can have peace of mind.   Contact us for a FREE quote request.

Steve Naught, CIC

3736 Osage Beach Parkway
Osage Beach, MO 65065
Next to Golden Coral

T: 573-348-2794
F: 573-348-0191