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CHICAGO, IL, December 13, 2009 /24-7PressRelease/ -- Condo hotels are sprouting up across the country--and with every residential property comes along the need for proper insurance. According to a recent InsuranceAgents.com article, 'The Scoop on Condo Hotel Insurance,' condo hotel residents, like any other homeowner or renter, need to invest in condo hotel insurance to protect their belongings and finances.
"With any residence, the question of insurance comes to play and condo hotel insurance is no exception," the article says. Furthermore, "your condo hotel insurance policy doesn't have to be overly complicated or expensive. As long as you spring for a sufficient amount of coverage, liability and contents coverage should be adequate condo hotel coverage for your needs."
A condo hotel is a residential building that features both condominium units and hotel suites. A hotel-condo hybrid, each residential unit has one or two bedrooms and the unit is complete with a full kitchen and balcony(s). Buyers usually live their full or part time.
Each condo hotel insurance policy covers contents and liability. The unit itself is probably covered by the landlord/proprietor, but contents coverage will cover all of the resident's personal belongings.
Liability coverage provides medical and legal expenses if a guest is seriously injured in the condo unit, or if their property is damaged.
The InsuranceAgents.com article states that obtaining condo hotel insurance can be affordable, as long as the buyer is willing to spring for sufficient coverage and shop online for multiple condo insurance quotes. By talking to a condo insurance agent and obtaining several quotes, the resident can compare policies and find the best deal.
For more information, visit InsuranceAgents.com.
InsuranceAgents.com connects consumers with local insurance agents, and provides expert articles to help consumers make the right decisions.
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