New Jersey Condo insurance H06

New Jersey, Condo insurance , sometimes called ho6 insurance, help owners of condos through various coverages.  Stratum Insurance Agency LLC has been able to help condo owners with insurance in most states and has recently added New Jersey to the list.

What is New Jersey condo insurance (ho6 insurance)?

Condominium Insurance, commonly referred to as ”walls in coverage” is intended to protect condo unit owners from many possible losses that occur.  Generally speaking, an attached condo is covered by a master association policy for certain potential claims, but there are many risks that are not covered, such as damage to your personal property, such as your furnishings, cameras, clothes, and computers.  Your interior upgrades, such cabinetry, flooring, and other enhancements are also at risk.
Do you think that the liability claims are not a risk for condo owners? Think about these sample claims:

• a common slip/fall type of claim
• a fire from your unit damages the unit adjacent to yours
• your washing machine overflows and leaks into another unit.
• your dog gets loose and bites someone

A partial list of available coverages for owned-occupied condos:       

• Coverage for additions and alterations- to protect the interior of your condo unit (not on all policies, but highly recommended)
• Personal Property Coverage - to protect your personal belongings and other items that may not be crucial to the reconstruction of your condo
• Loss of Use Coverage
• Personal Liability - to protect against claims of bodily injury and property damage
• Medical Payments

There are many more options, including some for landlords.

Learn more about some of the coverages available here: http://www.stratumins.com/condos/

Why buy New Jersey condo insurance?

The answer is simple — because a master or homeowners association policy usually does not provide coverage for your personal belongings (referred to as personal property), your liability, or even your upgrades to your unit. There are often many upgrades in a unit, so consider potential claims for damage to your flooring, cabinets, countertops, and more.
For whom is condo unit owners insurance designed?
If you live in one of the following, then you want to consider condo unit owners insurance:

• Condominium Association
• Townhome Association
• Rowhouse Association
• Homeowners Association (attached homes)
• Planned Community  – Some Planned Unit Developments (PUD)
• Other types of residences where the exterior is coverage by a Master Association Policy or similar policy.

Learn more on the Stratum Insurance Agency Condo site here. The agency is able to quote insurance in over 40 states, including both owner-occupied condos, rental units, seasonal condo insurance, and more. Ask about discounts for combining your condo insurance with your auto insurance – we can help bundle it..  Umbrella policies are also available in most locations.

Request a quote:

• Online: http://www.stratumins.com/condos/
• Information for New Jersey Condo Landlords
• By Phone: 949-270-0609

** In New Jersey, certain areas, such as those with heavy wind or coastal exposure may not be eligible for a quote