You start with a standard policy when you purchase a condo insurance policy from AS Insurance Agency to protect your investment in your Manchester, NH, condo. Working with your insurance agent, you can add riders to your to add scheduled items, such as engagement rings or hobbyist equipment.
Scheduling an Item
You choose the riders or scheduled items to add to your basic condo policy. When you schedule an item in a condo policy, you specifically list that item, describing it in detail and including its value. You can add jewelry, business equipment, hobby equipment, books, stereo components, etc.
How It Affects Premiums
When you add items to the policy, the premium cost is affected. Each scheduled item or rider increases the premium slightly. If you add a lot of scheduled items, the cost of the policy increases.
Advantages Derived from Riders
While they might cost a bit per item, a rider is worth it if your condo gets damaged or someone steals your belongings. Normally, a condo policy works like other home insurance policies, covering personal belongings with a percentage of the condo’s value.
If you purchase a condo for $100,000, a typical policy includes coverage of between one and 10 percent of that value as personal belongings. You probably own more than $1,000 or even $10,000 worth of clothing, electronics, kitchen and other housewares, furniture, etc. When you schedule an item, you insure it for its full value. Whether a peril damages your items or a thief steals them, you receive the full value of the item so that you can buy a replacement.
Contact AS Insurance Agency Today
Let AS Insurance Agency help you customize your policy to cover your valuables completely in your Manchester, NH, condo. Contact us today to create your custom condo insurance.
