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Washington Condominium Owners Insurance
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Whether you own a house, condominium or townhouse, for most people their
home is their most important investment. The Fletcher Agency of Spokane, WA offers Illinois condominium insurance policies that have flexibility to meet your individual needs and above all, provide you with the security that comes only from the knowledge that your condominium is safe. |
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Insurance for your condo is one of the most popular and
important forms of personal insurance and the typical Washington Condominium Insurance policy has two main sections: |
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Section I - insurance coverage for your property
Section II - personal liability coverage (to cover you in
case of lawsuits arising from things that happen on your property) |
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Condominium insurance is often required by lenders to
obtain a mortgage and nearly everyone, whether you own or lease property, should have the protection of condominium insurance. |
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Washington Condominium Insurance FAQ
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Click on the link below to fill out a secure quote form for
Washington condominium insurance protection that will provide excellent insurance coverage at an affordable cost. Or you can speak with our Washington condominium insurance specialist at (509) 324-6311 to discuss the policy features in more detail. |
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Covered losses under a Washington condominium insurance policy can be paid on
either a replacement cost basis or on an actual cash value basis. When "actual cash value" is used, the policy owner is entitled to the depreciated value of the damaged property. Therefore, the older the item is, the less money you may receive for it. If you choose the "replacement cost" coverage, the Washington condominium insurance policy will reinburse the amount it costs to replace the property with something of a similar type and quality at current prices. |
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Washington Condominium Insurance Policy FAQ
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We are a Spokane, WA insurance agency offering affordable Washington
condominium insurance policy coverage in the following towns, cities and counties in Washington state: Opportunity, Millwood, Dishman, Seven Mile, Veradale, Spokane Valley, Trentwood, Pasadena Park, Glenrose, Country Homes, Greenacres, Newman Lake, Otis Orchards, Airway Heights, Mead, Colbert, Buckeye, Chattaroy, Milan, Deer Park, Elk, Clayton, Tumtum, Long Lake, Ford, Deep Creek, Reardan, Four Lakes, Medical Lake, Espanola, Marshall, Tyler, Cheney, Vallyford, Spangle, Plaza, Mica, Freeman, Manito, Fairfield, Waverly, Rockford, Whitman County, Pend Oreille County, Lincoln County, Stevens County, and Spokane County, WA. We can also offer lower cost Washington condo insurance coverage services throughout the state of Washington. |
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Click on the link below to fill out a secure quote form for Washington
condominium insurance protection that will provide excellent insurance coverage at an affordable cost. Or you can speak with our Washington condominium insurance specialist at (509) 324-6311 to discuss the policy features in more detail. |
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**The information, pictures, and other content in this website about particular insurance
services is only provided for informational purposes. Any decisions regarding your insurance needs should be discussed with a licensed insurance agent. |
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Personal liability in a Washington condominium insurance policy is also an
important part of having security from accidents that may occur on your property. We suggest you choose coverage limits that are not less than those on other liability insurance you own, such as car insurance. |
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Washington Condominium Insurance Policy FAQ
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An "All Risks" policy provides the broadest Washington condominium insurance
protection because it will cover losses that are due to any peril except those specifically excluded in the policy. A "Named Perils" policy covers losses that are due to only those perils listed in the standard Washington Condominium Insurance policy and typically include fire, hail, windstorm, and other physical losses. |
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Washington Condominium Insurance Policy FAQ
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If your policy limit is less than 80% of the replacement cost of your condo, you will
face a "coinsurance penalty," which means you'll have out-of-pocket expenses to cover costs beyond the policy deductible you chose. For example purposes we will assume your condominium's estimated replacement value (RCV) is $100,000. The co-insurance clause requires you carry at least $80,000 (80% of your RCV). If you chose to purchase only a $40,000 Washington Condominium Insurance policy you would be underinsured by half. Therefore, in the example the insurance company would pay one-half of a loss less the policy deductible, so if you suffered a $10,000 covered loss to your condo and had a $500 deductible, your policy would only pay $4,500. |
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Washington Condominium Insurance Policy FAQ
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Replacement Cost or Actual Cash Value
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All Risks or Named Perils
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Coinsurance Penalty
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Personal Liability
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Condo Insurance
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Washington
Personal Insurance
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The Fletcher Agency
421 W. Hastings Road
Spokane, Washington 99218
Spokane County, WA
Office: (509) 324-6311
Fax: (509) 324-6340
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Answer a few questions and
we can provide you with an
insurance quote by phone or email. Choose a Washington personal or business insurance coverage from the menu above. |
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The Fletcher Agency
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Insurance Coverages - Insurance Solutions
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Washington Condo Insurance Information
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