Home Insurance in 01950>Question Details

Jo An Kincaid, Renter in Newburyport, MA

How to estimate insurance?

Asked by Jo An Kincaid, Newburyport, MA Fri Apr 27, 2012

How do I estimate insurance on a condo costing $170,000/

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5
Richard Wolfson’s answer
The master insurance is usually a quoted rate, you're best advised to work with an insurance profssional you work with to see what additional coverages you'll need after they review your master insurance. Consult with your motor vehicle, life etc. insurance professional to see if they offer a discount for multiple policy holdings.

Hope that helps,
0 votes Thank Flag Link Fri Apr 27, 2012
By: Merrimachomeinteriors.com

A fair and reasonable insurance premium for the replacement cost of real estate costing $170,000 would be right around $600/yr.
0 votes Thank Flag Link Thu Jan 31, 2013
Your master insurance should be covered by the assocation typically, but you will need HO6 insurance which covers your interior of the property and also your personal belongings, so that can vary depending on the value of your properties ( your personal property).
I would call a local insurance company and ask, they should be able to estimate for you.
val
0 votes Thank Flag Link Fri Apr 27, 2012
If the condo has all in coverage you don't need insurance. If the condo does not have all the coverage you need an ho 6 policy. My guess would be that would be under $500
0 votes Thank Flag Link Fri Apr 27, 2012
Insurance with a condo can be confusing and you need to know what the condo association pays. Many condos have common insurance that covers the roof, walls, deck, doors, windows, pools, sidewalks, etc. In these condos all you have to have insurance on are the contents of your condo. You insure paint to paint or in other words from that wall to the other wall inside the unit. Simple renters insurance is the same thing and pretty darn cheap since the condo assoc covers the building.
0 votes Thank Flag Link Fri Apr 27, 2012
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