Remember that it's always wise to do a home inventory when insuring your unit. You should record the manufacturer names, model and serial numbers for your more expensive items. But you should record all items in your condo — not just big-ticket ones – and be descriptive. The greater the detail, the more useful the inventory. While this may seem tedious now, the effort could eventually save you money and expedite the processing of your claim.

Finally, you should also bear in mind that Freddie Mac (The Federal Home Loan Mortgage Corporation) imposes a surcharge on all loans for condominium units that it funds in California. This surcharge is equivalent to one percent of the unpaid principal balance of the loan. However, it can be reduced or waived if you obtain earthquake insurance for the complex and your unit and/or you get a favorable evaluation of both.