If you’ve recently purchased a condo, your next step is getting insurance to protect your investment. Before selecting a condo insurance policy, make sure you understand how condo insurance works and the protection it has to offer. The following facts compiled by All Nevada Insurance Inc. can help you make wise condo insurance choices to protect your Las Vegas, NV condo.

• Your condo has a master insurance policy that generally covers damage to your building and common areas.
• If your master policy offers "all-in" coverage, it will also cover appliances, wiring, plumbing, light fixtures and other built-in structures included with your unit. If the master policy is "bare bones," it offers no protection for the interior of your condo, leaving you to provide this coverage on your own.
• By purchasing your own condo insurance policy, you can ensure you have the protection you need for your individual unit. An individual HO6 insurance policy offers interior protection, protection of personal property and protection against liability claims.
• Interior protection includes walls, ceilings, floors, light fixtures and built-in structures that came with your condo. It generally covers such perils as smoke damage, fire, adverse weather, theft, and vandalism.  
• Property coverage protects your goods to include clothes, jewelry, furniture, appliances, electronics, and other goods. You have the option of getting actual cash value coverage or replacement cost coverage. The former covers the value of your goods less depreciation. The latter coverage will pay for replacing your goods, without taking off for depreciation.
• Liability coverage protects you against accidents that people may have while visiting your condo. It also covers legal expenses for lawsuits if you’re sued for damages, up to the limits of your policy. 

For more information about condo insurance coverage and costs, contact us at All Nevada Insurance Inc. in Las Vegas, NV.