It can be tough getting insurance on a time-share condominium. For one thing, they get a lot more visitors than the typical vacation home. You’re sharing this condo with several other people, so determining who is responsible for what can get difficult. However, if you keep organized with a clear mind, you can manage through this and get back to enjoying your vacation.
How To Do It
You may already be covered. Go over your timeshare agreement. Read it all down to the fine print. See what kind of coverage you already have. If you have a deeded timeshare, that means it’s your legal property with all rights and responsibilities. That includes getting property and liability insurance. If you rent it out, you will need a commercial landlord policy.
Other Considerations
Keep in mind that due to the fact that the facility is commercial and not completely owned by you, the standard homeowner’s insurance policy generally will not provide adequate coverage. Check on how much you covered in the event of theft. Your liability insurance may cover accidental damage to someone else’s property. In any case, your home insurance agent should be able to explain your coverage to you.
Umbrella Insurance
That’s a lot of things to cover, isn’t it? You may want to consider umbrella insurance for your timeshare condo. It offers more liability coverage at a lesser cost than the increasing liability limits of your underlying policy.
AS Insurance Agency serving Manchester, NH
If you are looking for insurance coverage for your property in the Manchester, NH area, consider contacting the AS Insurance Company. We are dedicated to providing fair compensation for your property.
