How does condo insurance differ from home insurance

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Pleasanton, CA is one of the best places to live in the U.S. If you are lucky enough to live here, you are in one of America’s wealthiest cities. The housing prices are high, and one way to break into the housing market is with a condo. For most people, their home will be the largest investment they ever make, and protecting that investment means having the best condo insurance you can afford. At Miao Insurance Services, we are locally owned and operated, and we work hard to find our customers the most affordable and reliable condo coverage. 

You may think owning a home, whether freestanding or a condo, is pretty much the same thing, and therefore, the insurance would also be the same. While condo insurance does have some of the same coverage as home insurance, it is different in the amount and the things covered. 

When you own a condo, you own the interior of your unit. The exterior and communal areas belong to the Condominium Association. These are covered by a master policy maintained by the association. It is paid for through the HOA dues all the owners pay. Every condo owner must read the master policy to understand where your responsibility begins. 

You don’t need to cover the exterior of the building. Therefore, the amount of building coverage will be much lower on a condo policy. It is walls in coverage, so built-ins and the fixtures are what is covered. Contents coverage and liability insurance will be dependent on what you have in your unit and how much you are worth. Loss of use is another coverage you should have on your condo policy. 

When you are in the market for condo insurance at Miao Insurance Services in Pleasanton, CA, we are here to help. 

Do I need auto insurance in California?

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Those that live in the Pleasanton, CA area will love all of the local and nearby amenities. When you are considering living here, you will find that owning a car is necessary so you can get around the area quickly and safely. When you are trying to find a car, you must consider your insurance needs. There are a few different reasons to obtain a new insurance plan for your car. 

Insurance is a State Requirement

A common reason that all California drivers need auto insurance is that your state laws will require it. When you drive your car on a publicly accessible road, state laws require that you carry a full liability insurance plan at all times. This coverage ensures that you could pay for any damages that may be caused by accident. 

Auto Loan Providers require insurance.

You will also need to get an auto insurance plan because your auto loan provider will require it. If you take out a mortgage, your lender will want you to have a full auto insurance plan that includes collision and comprehensive coverage. This insurance is required as it will protect the lender’s security interest in your car.

There are many situations when someone in the Pleasanton, CA area will need to have auto insurance. If you are going to get an auto policy here, it would be a good idea to call Miao Insurance Services. The team with Miao Insurance Services can help you assess your situation and answer all of your questions. This guidance will give you the support needed to pick a policy that is ideal for your situation. 

Do you need commercial insurance if you are working from home?

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Your at-home business continues to thrive in Pleasanton, CA. Leaving the brick-and-mortar office space for more economical means was the best decision you made for your company. Do you still need your commercial insurance plan, though? The Miao Insurance Services agents can help you understand why business insurance is more important now than ever. 

What does commercial insurance cover?

Commercial insurance is a blanket term that encompasses various forms of business indemnity plans. Under the commercial insurance umbrella, a business owner can obtain coverage for:

  • General Liability, where customers who are injured while patronizing the company receive compensation.
  • Auto Insurance, which operates like a standard auto insurance plan.
  • Workers Compensation, which covers employees injured on the job. Workers compensation insurance is required by state law if you have an employee regardless of whether or not your business is a traditional brick-and-mortar or a virtual company.
  • Business Interruption, where your insurance plan pays if you are forced to close for a day due to an unforeseen incident such as a power outage in Pleasanton, CA. 

There are many other commercial insurance types that an agent at Miao Insurance Services can help you understand. 

Do you need commercial insurance for your at-home business?

Your company is susceptible to lawsuits and damages even if operated from your home. In fact, depending on the type of business you have established, you may find yourself at the center of more financial loss when operating a virtual company without insurance. 

Home insurance does not cover items connected to your online business. Thus, you are at a loss if the garage floods and damages your products. You should also consider commercial insurance coverage that pays for legal fees if you are sued for giving bad advice that leads to losses for your client. 

An at-home business does not mean you should drop your commercial insurance plan. Call Miao Insurance Services today to learn how you can restructure your policy to fit your needs.

What Types of Water Damage Are Covered by My Homeowners’ Insurance?

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Water that makes its way into your home can cause thousands of dollars worth of damage. The question is whether or not your insurance will cover the cost of the repairs. At Miao Insurance Services, the agents are always available to answer questions about your homeowners’ insurance and what it covers. Pleasanton, CA residents who need answers about their homeowners’ insurance need to talk to an agent they trust.

Sudden and Accidental Types of Damage

Sudden and accidental types of damage can include a burst water pipe or brain damage that is caused by water getting in through a window that was damaged during a storm. Water damage caused by a limb knocking a hole in the roof or a wall would also be covered.

Gradual Types of Damage

Water damage that is caused by gradual means will not be covered. This can mean damage caused by broken plumbing that failed due to long-term wear and tear. If plumbing fails because it has been neglected or in need of repair, your insurance company won’t cover the repairs’ cost.

Flood Insurance

Basic homeowners’ insurance policies do not generally cover flood insurance. To be covered for flood damage, you would have to purchase a flood insurance policy in addition to your homeowners’ policy.

Determining the cause of water damage can be tricky sometimes. It’s essential to maintain your roof and plumbing to ensure both are in good condition. In Pleasanton, CA, the Miao Insurance Services agents make sure their clients understand what types of water damage are covered and what is not. Speak to an agent today to get the answers you need and the coverage you want.