We have several options with A+ rated carriers for condo insurance. Therefore we can get you the best coverage for the best deal. To receive a quote please fill out the form below or click here to get our contact information.
What Does Condo Insurance Cover?
A typical policy provides coverage for the following categories:
- Building property: the unit itself, walls and fixtures
- Personal property: your belongings
- Personal liability: expenses from claims or lawsuits against you
- Loss of use: costs of lodging if unit is uninhabitable
- Loss assessment: your portion of any losses shared by the association
- Plus other optional coverages
To learn more about the ins and outs of condo insurance click here.
There is one main differences between a condo and a regular homeowners policy. The condo policy only covers the interior structure of a unit from the “walls-in”. Otherwise, condo and homeowners policies are quite similar in how they cover personal property, liability, and additional living expenses.
Usually, dwelling and property coverage for a condo will cover a defined list of “named perils”. For example fire, hail, theft and vandalism. So any perils that are not named are not covered. Therefore you’re financially responsible for those damages.
In both condo and homeowners insurance, flooding and earthquake are usually excluded perils. Because of that, for those coverages, additional coverages are available to purchase.