Correct. |
That is a good reason. |
This. If you have any assets other than your house, carry an umbrella policy, as well. |
Until someone is injured on your property. |
What happens if someone trips and is seriously injured on your property and you don’t have homeowners’? Better hope you have a good umbrella policy at least. |
Master policy’s for Condos do not cover personal effects, the deductible if you cause damage or displacement if you need to live somewhere else if your unit is unlivable due to a water leak or fire. It can also cover your monthly assessments if you can’t live in the unit due to damage. It can take a long time to fix a condo after an event. Living expenses quickly add up. An HO6 policy is fairly cheap. |
Yes |
I’m not sure you can get an umbrella without also having homeowners. |
If you can afford to go without traditional insurance you wouldn't be asking about it on an anonymous message board. Keep your insurance. |