There are several chances of your condo having a minor fire incident. While the accident could have been contained the resultant smoke, as well as the dirty water, will pollute the nearby areas. In fact, if such instances occur, the owner of the Notting Hill condos will be liable for any damage.

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The reason behind the need for insurance

The question might pop up as to why a separate condo insurance policy is needed when the building has an insurance policy. The answer to this question is the insurance coverage of the building will only accommodate the building as well as the areas such as garden, lobby, gym, pool, and elevators. Any belongings inside the building, extensions to the building and any liability claims made against the owner will not be covered here.

What is covered in the condo insurance?

Generally, in the condo building apart from the condo and the belongings inside, the rest will be the communal property. In fact, the storage locker, as well as the balcony, will be considered as communal property even though it is for personal use. With the notting hill condos insurance, the common areas will be undercover where the fee will be added to the monthly maintenance fee. In this insurance, the building and structures will, of course, be covered. Along with the common property areas along with the electrical, plumbing, floor and wall coverings will be covered. In case there is a repair or replacement made to any of these communal properties due to theft or fire, it will be covered in the insurance. The earlier mentioned liability coverage along with the legal fees if any will be taken care in the insurance.

Personal coverage

All the claims which are not covered in the condo insurance policy can be covered under the personal condo insurance policy. This policy will have personal liability as well as all-risk condo insurance.

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Personal Liability: This insurance policy will take care of the people residing in the Notting Hill condo unit against all the claims which are made for any kind of injury to the property or to any person. This will hold irrespective of the presence of the insurance holder in the given property. The claims will usually be around $1 million for liability even if the incident was made unintentionally.

For Risk: During any kind of accidents in the Notting Hill condo there are chances where the personal belongings inside the condo unit might get affected. It can be due to a simple pipe burst or it can be due to natural occurrences like windstorms. Cases like theft; fire outbreak etc will also be covered here. Along with this, there will be coverage given for repair and for the replacement of the property elements like flooring, pipes etc. Any kind of spills or breakage will be covered in the insurance. When there are major damages the residents will need to relocate to a different place which will increase the household expenses. These costs will be covered until the repair work is completed.