Basics about Condo Insurance in Chicago...
If you are new to condominium ownership, you might be surprised at just how much it varies from single-family home ownership. With the latter, you are required by your lender and by the law to carry insurance, but with a condo, it is different. Especially as it relates to condo insurance in Chicago. As an example, you are not generally required by the law to buy condo insurance in Chicago since the structure is often covered through a policy that has been purchased by the condo board. Of course, that same board may insist that each homeowner has insurance that protects the property. Either way, it is always advisable to have independent condo insurance in Chicago (and anywhere else, for that matter). Why? Whether or not your property is covered by a master insurance...
read more