Is condo insurance required in AZ

Prescott is a beautiful area of Arizona. Condos are a popular way to get to enjoy all the area has to offer. At Manzanita Insurance in Prescott, AZ, we are independent insurance agents and we work for our customers, not for the insurance company. That allows us more choices and options for getting you the best coverage at the best price. 

Condo insurance is not required by the state of Arizona but it will be required by your lender if you have a mortgage. It may also be required by your condo association. It is up to you to know what you need to have. 

Condo associations have a master policy to cover the common areas of the complex and also the exterior of the buildings. Not all master policies are the same, some cover all the way into your unit, others do not. Before you decide on a condo insurance policy, you need to know exactly what you need to cover. 

Condo insurance offers a variety of different types of coverage. Most policies include content coverage, liability coverage, and loss of use coverage. You should also consider getting loss assessment coverage. 

Content coverage will help replace your personal property. This includes furniture, clothing, jewelry (with limits), electronics, and more. The liability protection will give you what you need if you get sued up to your policy limit. Loss of use will help you with paying for a place to stay when your unit is damaged.

Loss assessment coverage is important as well, since if your complex needs major repairs that your dues haven’t provided enough money for, you may receive an assessment that you need to pay. It can be many thousands of dollars and it isn’t optional. 

When you are ready to discuss condo insurance, Manzanita Insurance in Prescott, AZ , will be here to help out in any way we can.