Condo Insurance: Protection Beyond the Master Policy
A condominium association typically has a “master” insurance policy that covers the building, common property, and liability insurance. However, for situations like burglary, smoke damage, or personal liability, you need your own condo owner’s protection policy.
It’s crucial to review your condominium association bylaws to understand your responsibilities. While the master policy covers the exterior walls, you are responsible for the interior and your personal possessions.
Understanding Your Condo Insurance Coverage
We recommend ensuring your Dwelling A coverage limit matches the deductible on your Condominium Association’s Master Policy. Additional coverage should be considered based on your individual needs. If there are changes to the Master Policy or bylaws, our Associates can help you review your coverage requirements.
Important Coverage Considerations
- Interior Protection: Covers interior structures, including flooring, fixtures, and built-ins.
- Personal Property Coverage: Protects belongings such as furniture, electronics, and clothing from theft or damage.
- Liability Protection: Provides coverage if someone is injured or their property is damaged due to your unintentional actions.
- Additional Living Expenses: Helps cover temporary housing costs if your condo becomes uninhabitable due to a covered event.
Note: Condominium owner policies do not cover floods. To protect your property, a separate flood insurance policy is necessary.
Get Started on Your Condo Insurance Quote
Don’t hesitate to contact our office or visit our quotes page to obtain your quote. We will simplify the process!
