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Making Changes to Condo Insurance in Texas

You can make changes to your Texas condo insurance coverage by informing your insurer of the desired adjustments. If you purchased condo coverage through a property insurance agent, ask them to handle the changes for you. Most independent agents continue to help their clients during the tenure of the policy. Knowledgeable P&C agents proactively review their policies at least annually, and advise their clients on the suggested changes. If you agree with the agent’s recommendation, the agent prepares and takes care of all the paperwork and phone calls required to make the change.

Can I Make Changes to the Coverage of Condo Insurance Policy?

Yes, you can make changes to your condo insurance policy coverage as long as the insurance policy provider agrees to the changes.

What Can Be Changed in Condo Insurance?

Some of the changes you can make to your insurance policy in Texas are:

  1. A change in your payment structure. For example, you can decide to pay your insurance premiums monthly or yearly. You can also choose to pay a higher deductible to lower your insurance premiums or vice versa. You can opt to pay monthly, yearly, or otherwise so long as your condo insurance provider agrees

  2. A change in the value of your insurance premiums versus your deductibles. The value of your condo, including all improvements made to the condominium.

  3. A change in the scope of coverages available for your condominium and personal property. Inclusion or removal of specific risks. For example, if your insurer permits, you can opt to include coverage for degraded walls due to water seepage.

It is best to consult your condo insurance provider or a licensed property insurance agent to find out the types of changes you can make to your condo insurance.

How Can I Make Changes to an Active Condo Insurance Policy?

You can make changes to an active condo insurance policy by:

  • Contacting your property insurance agent and ask them to initiate the needed changes. The agent assesses your needs, to confirm that the new coverage is indeed a good value for you, and submits the required paperwork on your behalf. If the agent is aware of an alternate insurer that can fit your needs better, the agent will make that option known.

  • Contacting your condo insurance provider and requesting to make the changes you want. When you call in, you will speak to the company’s own agent, who can help make the needed changes, but can only discuss the products offered by their employer.

Keep in mind that if the change results in more coverage, it will likely increase the cost of the underlying insurance.

Can I Change Coverage Amount After Paying for Condo Insurance Policy?

You cannot change the coverage amount of a condo insurance policy after paying for it. If you want to change coverage amount, you will have to get a new policy clearly stating the new coverage you want.

Can I Add Property to Condo Insurance?

Yes, you can add properties to your condo insurance if the properties are also in your condominiums. However, doing this will alter the cost of your current insurance premiums. Therefore, it is best to consult with your condo insurance provider or a licensed property insurance agent to understand how adding a property will affect your existing condo insurance.

Can I Remove Property from Condo Insurance?

Yes, you can remove property from your condo insurance. Removing property from your condo insurance policy will lower the cost of your insurance premiums. Consult with a licensed residential property insurance agent in Texas to know how to remove a property from your condo insurance.

Your insurance provider cannot change anything in your condo insurance policy without your consent. According to the Consumer Bill of Rights - Homeowners, Dwelling, and Renters Insurance, all condo insurance policy changes and content must be appropriately disclosed to you. Contact your condo insurance provider or a licensed Texas property insurance agent if you notice any changes to your insurance policy not initiated by you.