Condominium Insurance

What Does Condo Insurance Cover?

A condo insurance policy may include coverage for:

• Personal property. Furniture, electronics, clothing, and other belongings inside your unit.
• Interior features. Flooring, cabinetry, fixtures, and other interior finishes of your unit.
• Liability protection. Financial protection if someone is injured while inside your condo.
• Additional living expenses. Costs to live elsewhere if your unit becomes uninhabitable due to a covered loss.

It's important to note that your condo association's master policy typically covers only the building's exterior and common areas — everything inside your unit is generally your responsibility to insure.

Why Condo Insurance Matters

Unexpected events can happen at any time, and a condo policy helps cover losses that aren't included in your association's master policy. Many mortgage lenders also require proof of condo insurance before closing on a unit, and even when it isn't required, carrying a policy can help you avoid paying for a loss entirely out of pocket.

What Affects Your Policy Cost?

Several factors can affect your condo insurance rate, including:

• Location. Premiums may be higher in areas prone to severe weather, theft, or higher rebuilding costs.
• Coverage limits. The amount of coverage you choose for personal property, liability, and additional living expenses affects your rate.
• Deductible. A higher deductible can lower your premium, but means you'll pay more out of pocket if you file a claim.
• Building features. Security systems, fire alarms, and updated building materials may qualify you for discounts.
• Claims history. A history of frequent claims may increase your premium.

As an independent agency, we shop your condo insurance across multiple carriers to find coverage tailored to your unit and your budget. Contact our team today for a free, personalized quote.