Timeshares are a special version of condominium ownership as you essentially have a certain time period where you live in the condo during the year.  If you have a month blocked off in the summer for your timeshare to be active, that’s your month to “own” the timeshare before the next tenant has ownership of it.  Vacationers love this aspect of timeshares because it gives them a viable alternative to staying in a hotel and having limited amenities.  Questions that are usually asked by a timeshare owner include:  will my condo insurance cover my timeshare?  If it doesn’t, what options do I have in coverage?  Armorcrest Insurance Services in El Centro, CA offers many types of condominium insurance and other policies.

Timeshare Insurance Options

Options are radically different if you own the timeshare (have the deed) versus renting it during the year.  Deeded Timeshare Insurance is offered which can protect the timeshare year-round from incidents or damage from renters.  If you rent the timeshare, you can’t really get condo insurance as you don’t actually own the unit, you’re just renting it.  What you can do, however, is get renter’s insurance which will cover your items while you’re staying in the unit.  

For example, if the unit is destroyed by a house fire while you’re renting it, the structure is protected by the homeowner’s condo insurance (or in this case, deeded timeshare insurance) while your items inside are protected by your renter’s insurance. This stays true no matter how many different tenants use the condo throughout the year.  As long as each tenant has their own renter’s insurance during their stay, the items inside will be covered during a catastrophic event.  

To Learn More

You can learn more about condo insurance by contacting Armorcrest Insurance Services in El Centro, CA today!