Insure a condo in Chicago

Why insure your Chicago condo? You’ll need to insure your condo in Chicago because the association fees that you pay each month do not cover any of your contents.  It’s critical for you to understand this. 

The condo association fees you pay each month do cover insurance.  The insurance that’s covered in for the condo complex, not for anything inside your four walls.  If a tornado came and swept away the complex, the complex would be rebuilt but would not have any of your contents inside including kitchen cabinets, toilets, flooring, etc.

Basically, when you bought your condo, everything that is inside of it, including the fixtures are yours and you have to insure them.  When you insure a condo, you’re insuring all the fixtures and all contents, such as your clothes, your mattress, your TV’s and computer; things like that.  Can you imagine if all that was stolen or damaged tomorrow?  How would you replace it all?  Look around and add up the price.  You’ll find that you have more stuff than you thought. 

How do you insure a condo in Chicago? Most agencies will do this type of insurance but you may have to check around.  Basically the type of insurance we’re talking about is called contents insurance also known as renters or apartment insurance.  It insures the contents of the unit. The association fees that you pay for that also has  a line item for insurance expense covers everything outside your four walls.  It covers the hallways, the roof, the windows, the landscaping and overall, everything that’s not inside the units.  This is also mandatory, but the complex does not let you know that it doesn’t carry coverage for you.  You have to get this insurance yourself.

If you go to the website “InsureACondo.com” you’ll find a number of choices on this subject.  Don’t get caught without this insurance.  You might never need it, but if you do some day, it will invaluable to you. The cost is very inexpensive as well.  Many insurance firms will charge less than $50 per month for this depending on the policy you put in place and how much you’re planning to insure.

Insure a condo in Chicago or chance it?  What will you do? Look around the condo and assess how much you would have to replace if it was all scooped up today.  You probably have more stuff in your condo than you thought.