There are many benefits to owning a condo instead of a free-standing home, but you still need to be smart about your investment. Michigan has been a great place to own property for a long time. If you want to invest and purchase a home in this area, one option to consider is getting a condo. Condo owners will enjoy many of the same homeownership benefits but will not have the same maintenance and repair obligations. Getting a condo insurance plan is important if you want to buy a condo. You will likely be required to have this for a few reasons.

You should be familiar with your condo insurance requirements if you own a condo in Michigan and live in a community association. Most associations require condo owners to maintain the coverage and provide proof of their policy from time to time. Maintaining this coverage ultimately protects all other unit owners. It ensures you can cover major repairs if there is a fire in your unit or a leak that covers damages to other parts of your condo.

If you’re a condo owner in Michigan, chances are you took out a loan to purchase your property. Your lender will want to make sure their investment is protected and that there is coverage for it. To maintain this coverage, you may be required to purchase condo insurance and continue making monthly escrow payments on top of your monthly mortgage payment.

Great Lakes State Agency is a trusted condo insurance agency located in Lansing, MI. We specialize in customer service and offering quality coverages to Michigan condo owners at competitive prices. Our quick and efficient services will allow you to feel confident knowing that your policy is in place and fully compliant with state regulations.