Condo insurance is used for protection of personal belongings and the improvements made inside a condominium unit. It will also provide coverage against costs arising from injury to visitors inside your unit and damage caused to other units due to your negligence within the building. Condo insurance isn’t mandatory, but there are many good arguments
Although homeowners or property insurance isn’t mandatory, those who are applying for a mortgage on their home are usually required to provide proof of insurance to their bank or a lending institution in order to qualify. The terms “homeowners insurance” and “property insurance” are quite often used interchangeably, however, they are essentially the same. There
If you have ever wondered who the policyholder is for insurance coverage, the answer is quite straightforward. The person who has purchased the policy and has the authority to exercise the rights stated in the contract is the policyholder. The policyholder is in most cases the insured or could be one of the policies beneficiaries.