Insurance On A Condo Rental
I will be moving out of my condo and renting it out.
1. What is the minimum liability coverage I should get?
2. How about other types of coverage...stove, refrigerator, washer dryer, walls etc.
3. How does an existing master HOA policy figure into the mix?
3. Overall, what should I be concerned about when shopping for insurance? (renter's belongings vs. my property, etc,)
Thanks for the input,
Paul
Liability, as much as you can...Owner/Tenant Liability coverage.
Master Assoc Policy should cover everything from the studs out...so your responsible for the studs in towards the unit.
I use a figure about $5000-$6500 for personal property and calculate about $15,000-$25,000 depending on construction cost of the unit.