What Is The Difference Between Condo Insurance And The Condominium Owners Association Insurance?

Do you Own a Condo in the Portland, OR area?

One has many options in choosing a dwelling such as a house, townhouse, apartment, and condominium. In each of these dwellings, you have personal property interests that you want to protect. A house contains your personal belongings, and you need to ensure that not only your personal property is protected, but you must also protect the structure of your home and all of its surrounding real estate. While condominiums, townhouses, and apartments, in effect, store your personal belongings, which ones are your responsibility to insure or protect?

Types of Coverage

HO-6 form is designed for individual condominium owners and provides for liability coverage such as medical payments coverage and personal property coverage.  Additional livings expenses coverage can be obtained if you suffer damages because of theft and fire or any other loss that is stated in your policy for the improvement of your condo. If you can not live in the condo, your policy should cover living expenses outside of the unit. You can also obtain additional coverage for jewelry, computer equipment, expensive art, or any other type of valuables. Depending on where you live, you may obtain coverage for certain acts of nature such as earthquakes, windstorms, or flooding. A homeowners’ insurance policy is similar to the type of coverage as stated in individual condominium policy.

A condominium owner must be a member of a condominium association which has a policy referred to as the Master Policy. This policy does not protect the condominium owner from any of the perils identified in the owner’s condominium insurance policy which results in the loss of personal property or liability to others.  The condominium association insurance policy covers structural damage to the building, outside walls, any elevators, the roof, heating unit, basement, and all common areas shared by the condominium.

The agents of PorchLight Insurance in Portland, OR will meet your needs in protecting your dwelling. Please call our offices to get a quote or visit PorchLight Insurance to speak with an agent face to face.






How do you stop house fires before they start?

A house fire can be one of the most devastating disasters that can befall a family. Not only can a fire destroy your most precious investment, but it can put you and your family at risk. PorchLight Insurance, serving Tigard, OR, has some helpful hints on how to stop house fires before they start.

The most common place where house fires start is in the kitchen. You should make sure that your cooking surface is cleaned of grease or oil. Food being cooked should be attended to at all times. The handles of pots and pans should be positioned in such a way that they are out of reach. Flammable materials such as potholders and paper towels should be kept away from cooktops when they are in use.

If you live in an older home, you might want to consider having an electrician check your house’s electrical system for shorts and frayed insulation, especially around outlets. Any extension cords you might use should not be worn or frayed. You should make sure that the cords are kept away from flammable objects such as drapes or rugs.

  • You should keep matches and lighters away from small children. A considerable number of house fires start when children play with them.
  • You should never smoke in bed. You might fall asleep before finishing, dropping the cigarette and catching it against the blankets.
  • You should keep space heaters away from anything that might catch fire. Keep flammable objects away from fireplaces.
  • Finally, you should keep your home equipped with smoke alarms and at least one fire extinguisher. Follow the manufacturer’s instructions when using the extinguisher.

If you have any questions about house fires or home insurance, contact PorchLight Insurance, serving Tigard, OR.

When Can You Claim Your Home Insurance

Your home is the most significant investment that you will make in your life. Therefore, it doesn’t make sense if you fail to insure it. A standard homeowners’ insurance policy from Porchlight Insurance covers both your home structure and personal property from various disasters and accidents.

It also offers you liability coverage in case a costly accident happens in your home. However, most homeowners in Tigard, OR don’t know much about their home insurance. They don’t know when to claim and when not to claim on their policies. Let us examine some scenarios when you can file on your home insurance.

Loss of Use

You should file your home insurance claim if you are unable to live in your home because of a covered loss such as fire or weather. Your insurance provider will reimburse you for the living expenses up to your policy limits depending on your policy. There may be limits to what is covered in the case of loss of use.

Make a Claim When You Are Sued

Accidents will always occur, and you never know when you will be caught in the mix. A costly accident can happen on your premises at any time. If your friend is injured in your home and he/she files a lawsuit against you, then your liability coverage should pay the legal fees. It will also settle the hospital bill of the injured person and try to negotiate with him/her to resolve the matter outside the courtroom.

When A Covered Event Damages Your Home

Typically, your home insurance covers you against fire, storm, and vandalism among other disasters. If any of the covered disasters destroy your home and you can’t meet the cost of repair, then your insurance provider will be there to help you repair or rebuild it. Just make sure that the cause of the damage is a covered event.

Are you a homeowner in Tigard, OR? Contact Porchlight Insurance today to learn more about a homeowners’ insurance policy.