It depends on your situation. If you finance your unit with a mortgage, the lending company typically requires you to have at least basic dwelling coverage. Your homeowners association (HOA) could also require some individual protection. If you own your condo outright, however, coverage may not be legally required.
Of course, even if you don't legally need Vermont condo insurance, that doesn't mean you don't need it. Because while your HOA policy handles incidents that happen to your condo building, it's typically up to you to foot the bill for what happens inside your unit — and depending on the incident, this could be a financial hit you can't manage on your own.
- Winter snow breaks through your building's roof and spills into your unit?
- A burglar makes off with your flat screen, computer, or jewelry?
- A visitor breaks a leg on your stairs and sues you for the hospital bills?
These are just a few of the scenarios that will make you glad to have personal condo insurance on your side. When you get your free quote, you'll be able to tailor a policy that gives you the utmost peace of mind for the unforeseen future.