Contact Us

Shults Insurance Agency Inc.

282 South Avenue Suite 201, Fanwood, NJ 07023
Phone : 908-889-7444
Fax : 908-889-7583
Email : lou@shultsinsuranceagency.com

Condo Insurance

What is Condo Insurance?

Condo insurance covers your possessions and is very similar to renter’s insurance. The key difference is "dwelling coverage. "With a condo, the owner, or the association, owns the outer shell of the building and has that insured. With a condo, you are responsible for everything inside the outer shell of the building. This could include electrical outlets and things like sheetrock and light fixtures. Your condo contract will spell that out, and your insurance agent should take a look to make sure you are covered. The Shults Insurance Agency Inc. is here to make sure your New Jersey condo has the right coverage.

With the condo insurance, you will have insurance on the contents of your property. You will have to set your deductible which will affect your rates. Another thing that affects the rates is whether you have replacement cost coverage or fair market value coverage. Replacement cost means what it costs to replace an item. If you have a $5,000 couch that is destroyed, the replacement cost coverage will get you the money to buy a sofa like that one. With fair market value, the couch is not worth what it was ten years ago, so you would get much less if you filed a claim.

In New Jersey, the Shults Insurance Agency Inc. is here to help you find the coverage you need. Call us today and let our professional staff find the policy that is best for your situation. For contents coverage, you will need receipts showing that you paid for various items. If you have added something new, you need to let your insurance agent know so the policy can be updated. You may call us, visit us in person, or contact us by email. Existing customers should also check with us once a year or so to make sure their policy is up to date. Any significant change in your condo can affect your coverage. Contact us for more information.

Partner Carriers

  • Assurant
  • Cabrillo Coastal
  • Farmers Mutual Fire Insurance Co. of Salem County
  • Foremost
  • Lloyd’s of London
  • NCIP – CatCoverage
  • Norfolk & Dedham
  • PersonalUmbrella.com
  • Plymouth Rock
  • Progressive
  • Swyfft
  • The Philadelphia Contributionship
  • Travelers
  • US Assure