It’s Joe Kennedy with the Kennedy Agency in Gilbert, Arizona. I’ve got to say, recording a video while looking at myself on a computer screen is pretty unbearable, but I’m getting the hang of it. Anyway, had a important topic come up with one of my clients that I wanted to share, that my client’s purchasing a condo. The condo that they’re purchasing has a homeowners association, so there’s an HOA policy that they have to have to live in that development. Now, their HOA covers a lot of items within the condo, so they wanted to know if they still needed the coverage with us. The answer would be absolutely.
The reason being, condo associations tend to have very high deductibles, anywhere from $5,000 to $10,000 at times. So, example would be, let’s say you’re making breakfast one day, which, probably not the best idea because you know you don’t know what you’re doing in the kitchen, and a fire breaks out, you got $20,000 worth of damage in there. You go to file a claim to get that repaired, just to find out that your HOA has that $10,000 deductible. You have a policy with us, even if it’s covered, you’re required to go through the condo.
Now, the nice thing with Allstate is that on your condo insurance, there is a coverage that we add to your policy that will go towards paying off that deductible on the condo policy. So, moral of the story, if you’re purchasing a condo or you live in the condo, you want to make sure you know what your HOA actually covers, and make sure you know what that deductible is, because the last time that you want to find out is if something goes wrong and you need to file a claim.
So, hope this helps. If you have any further questions you can call or text my office at 480-526-8277. You can email me at joekennedy@allstate.com. Or, stop in anytime, we’d love to chat with you. So have a great weekend.

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