What iscommonareainsurance for?
- It serves tocover damagecaused tocommonareas, as well aslosses resulting from accidents originating incommonareas.
Which companies hire you?
- There are four companies offeringthis type of insurance:Allianz, Caravela, Tranquilidade Zurich. We can group the offers into two categories. On the one hand, the first two offerextended coverage insurance that insures 25% of the property, and on the other, the latter two offer insurance with less coverage and options,but with fire coverage that insures the entire property.
Is it expensive insurance?
- No, it ismore economical for condominium owners thaninsuringcommonareasunder individual policies.
Can you insurepartof thecommonareas?
- Insurance forcommonareascoverscommonareas, andit is not possible to excludepartofthecommonareasfrom this insurance.
Is it worth taking out duplicate insurance for individualunitsandcommonareas?
- No, if there is insurance forcommonareas,what co-owners can do to avoid paying twice isto reduce their insurance for their unit, removing the 25%that they insured in excess to also insure thecommonareas.
This will benefit them, since the insurance rate forcommonareasis lower than the individual insurance they have taken out.