If you’re a proud condominium owner in Muskegon, MI, renting your space to tenants, you must recognize how such activities affect your condo insurance. Janis-Shunta Insurance illuminates the potential risks associated with vacation rentals and the importance of securing effective coverage to protect your investment.
Your Condo: A Secondary Residence?
First, understand that a second home, including a condominium, has different insurance requirements. It’s critical that your insurance provider recognizes this as a secondary residence and enlightens you about coverage differences.
Leasing Your Condo to Acquaintances
Override your worries if you’re merely providing your condo for occasional use to friends or family. This infrequent hospitality is unlikely to alter your coverage parameters.
Transforming Your Condo into an Income Property
However, the scenario shifts significantly when your condo serves as a regular income source–whether in-state or cross-border. Rental properties, including short-term vacation rentals advertised on digital platforms, are governed by different insurance rules. Hence, it’s essential to keep your insurance company informed.
Insuring Your Income-Gaining Condo
If your property generates income, exercise caution when securing insurance. Protect your condo against theft and damage adequately, going beyond basic coverage. Janis-Shunta Insurance’s expert team is ready to assist you.
Reach Out for Condo Insurance
Regardless of your rental frequency or opting never to rent it out, Janis-Shunta Insurance can help you find great condo insurance deals in Muskegon, MI. We work to ensure your policy aligns with your mortgage company and homeowner association’s (HOA) set guidelines, thereby protecting your investment. Discuss your property’s future with us today.
Contact Janis-Shunta Insurance for condo insurance assistance in Muskegon, MI, today.