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Condominium Association Insurance Rates in Chicago
As a property manager or board member, your condominium residents look to you to be responsible and provide the protection they need. Our affordable Condo Association Insurance protects your assets and minimizes risks. If you are a condo association owner, a property manager, or a condo association board member you need to review your current condominium association insurance to ensure you have the cheapest and best quality coverage.
Examples of Condo Association Insurance Claims
- A fire has destroyed a condo building and you need to rebuild from the ground up
- Your crew men accidentally drops the master keys into the property pond and they can't be recovered
- A major storm hits that causes the sewers to back up and ruins the carpeting in one of your condo buildings
- A condo association worker gets cut on broken glass in the trash area
- A resident's child is injured on the condo playground equipment and sues
Pros & Cons of Choosing the Cheapest Condo Insurance
Where does the unit-owner's responsibility end and the association's begin? Certain common areas of your building are likely covered by the association's insurance, but the interior of the units, owners' personal possessions and liability are not.
It is important that all homeowners should be advised on what is covered. Even where the association covers improvements, alterations, fixtures and appliances within units, it is advisable for the homeowner to continue to carry condominium insurance on their own separate policy.
Chicago Condo Association Insurance
Instead of offering "one-size-fits-all" condo insurance from a single company, Melendez Insurance provides our clients with the best possible coverage at the lowest rates from a vast group of well established, financially sound carriers. Our agents are familiar with the the unique aspects of affordable condo insurance and other common ownership entities, and work closely with directors to ensure their policies adhere to association by-laws.