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The Importance of Condo Insurance in Cumming, GA
Buying a condo, much like purchasing a house, necessitates obtaining and maintaining insurance coverage. This coverage protects your unit and covers unforeseen incidents. However, what happens if your Cumming, GA condo insurance lapses or if you fail to secure coverage altogether? Can you potentially lose your condo without insurance coverage? This brief guide has you covered.
The Consequences of Failing to Secure Condo Insurance
Mortgage companies often require home and condo owners to secure insurance coverage for their units. Although this is beneficial to them, it also serves your interests. Should your condo or personal belongings suffer damage, become destroyed, or are vandalized, or should you face legal action due to injuries incurred on your property, insurance coverage protects you. If you lack condo insurance, you may face significant financial burdens when covering damages.
So, while not having condo insurance won’t necessarily result in losing your condo, significant damages could render your unit uninhabitable. If this occurs and you have no insurance or financial means to cover costly repairs, you may need to seek alternative housing. If you seek reliable insurance coverage in the Cumming, GA area, consider Wichalonis Insurance Agency. Offering honesty, quality service, and comprehensive coverage, Wichalonis Insurance Agency can assist with your insurance needs. Contact us for a quote today.
