So, you’re thinking of buying a condo in South Boston. Congratulations! We know what a big step this is, and all the stress you’re dealing with. As condo prices in Boston continue to climb, and in an expensive ‘hood like Southie, jumping into the real estate market can be a daunting task. But your friends at Lighthouse Insurance are here to help!

Once you’ve made the financial commitment to buy property, you definitely want to make sure you have the right insurance to protect it. And in many cases, a standard condo insurance policy will not be enough to protect a luxury condo in Boston.

Here are 5 quick tips to think about when shopping around for your condo insurance policy.

1) Remember, your condo association will have a master condo insurance plan, but this plan will not cover your personal belongings. Condo owners should purchase their own condo insurance policy to protect their units and belongings.

2) Make sure your policy provides special limits of liability for any items you own that may require additional coverage. Think jewelry, silverware, furs, firearms, or even money and passports that you keep at home. You may want to consider adding a jewelry and fine arts rider to adequately protect these valuable items above and beyond the condo insurance policy limits.

3) There are many additional coverages you should consider when selecting your condo insurance policy. Things like debris removal, fire department service charges, and even lock replacement coverage can all be covered with the right plan.

4) Did you know that your condo insurance policy can also provide personal data replacement coverage and identity fraud expense coverage, along with complimentary theft management services? Ask your independent agent about how to get these coverages today!

5) Don’t forget to check on your personal liability coverage when assessing different condo insurance policies. This coverage provides protection in case someone is injured on your property or if you damage someone else’s property.

Here at Lighthouse, we know the Boston Condo Market like the backs of our hands. Get in touch today at 617-464-3777 or visit our website for more advice on how to protect your big investments!