If you own a condo, you want to be sure to have condo insurance instead of home insurance. Home insurance cannot provide you with the types of protection you need for your condo. These are just a few reasons from M8 Insurance, serving Salt Lake City, UT, why home insurance is not a substitute for condo insurance. 

• Your home insurance likely has more liability coverage than you need. When you own a condo, you only need enough liability insurance to cover your dwelling. Home insurance likely has too much, and you will end up paying more for that type of coverage, which is excessive. 
• You need protection from your neighbors in the building. More often than not, home insurance will not protect you or provide coverage for any damage to your unit that is caused by your neighbors. This is because there are not usually neighbors like this in place. Condo insurance would help you with this damage if it were to happen. You do not know what they are doing so having this coverage in place is best.
• You need coverage for anything not covered by the building. Most buildings will have coverage of some sort in place, but if there are things that their insurance does not cover as part of their policy, you will want to have this coverage built into your policy. Home insurance policies are not set up to account for these things making condo insurance the better overall fit for your needs. 

Now that you know the key differences between a condo and home insurance, you need to ensure that you have condo insurance in place for your condo. Contact M8 Insurance, servicing Salt Lake City, UT, to get started with your condo insurance quote today. If you are not in Utah, we also offer policies to a variety of other states. Ask an agent to find out if you are in one of our serving states.

Commercial insurance is legally required for any business owners who have employees, and it should be a necessity for everyone who owns their own enterprise. If you haven’t taken a look at your policy, it may be time for you to reconsider how you spend your time.

You May Be More Liable Than You Think 

From customer injuries to lost wages, if an employee misses work from an injury, you may be a lot more liable than you think for things that happen at your business. The better your policy is, the more likely it is you won’t have any problems later on down the road. Employee injuries and faulty products can be unexpected causes of lawsuits, and this is where commercial insurance can come in hand.

Litigation Is a Nightmare 

Even if you have basic coverage, you will likely have limits for that coverage on your policy. Just one lawsuit can spell disaster for a company, so it helps to have all the precautions in place. M8 Insurance in Salt Lake City, UT has helped plenty of businesses navigate the complicated waters of the justice system, ensuring that businesses have the support they need to make it through without being harmed. 

You Should Be Informed 

Studying an insurance policy is not how any business owner wants to spend their day, but it can provide a lot of peace of mind. Give M8 Insurance a call if you want a little help going over the documents. We can tell you what you should look for and what you can skip. It’s our job to make sure you not only have the right coverage but that you also understand how that coverage works in a real-life event. Visit us today if you live in Salt Lake City, UT or give us a call if you live outside the state of Utah!