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Concierge Insurance.
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Be prepared for whatever comes your way. Condo insurance offers protection against fire and smoke damage, weather damage, theft and vandalism. It also covers additions you make to the inside of your residence. Find an affordable plan that can help cover you for liability, as well as pay for damages to your condo or belongings down the road. When an unfortunate event happens, let us help you get back on your feet.
Many of our clients bundle multiple insurance policies for convenience, discounts, and broader protection. Explore these other personal insurance options.
If you own a condo, the building's master policy may not be enough to cover your space or personal belongings. Condo insurance provides protection for your things and the parts of your condo that are your responsibility. We'll be there, along with our superior claims service, in the event of theft, natural disasters and other types of covered damage.
Condo insurance, also known as an HO-6 policy, helps protect your personal belongings, interior improvements to your condominium, personal liability, and additional living expenses if your unit becomes temporarily uninhabitable due to a covered loss. While your condominium association's master insurance policy typically covers the building itself and common areas, your individual condo insurance helps protect what you own inside your unit.
Understanding the difference between your condo association's insurance and your personal condo insurance is one of the most important parts of choosing the right coverage.
While both policies provide protection for your property and personal liability, homeowners insurance covers an entire house and the structure itself. Condo insurance primarily protects the interior of your unit, your personal belongings, and your liability because the condominium association generally insures the building's exterior and common areas.
The exact division of responsibility depends on your condominium association's master insurance policy and bylaws.
Most condominium associations carry a master insurance policy that protects the building structure, roofs, exterior walls, common areas, and shared amenities. However, every association's policy is different. Some provide "bare walls" coverage, while others insure original fixtures and finishes inside each unit.
Reviewing your association's master policy can help determine how much individual condo insurance you need.
Yes. Condo insurance generally covers personal belongings such as furniture, clothing, electronics, appliances, kitchen items, and other possessions if they're damaged by a covered event like fire, theft, vandalism, or certain types of water damage.
Creating a home inventory and selecting appropriate personal property limits can help ensure your belongings are adequately protected.
Condo insurance often covers sudden and accidental water damage, such as a burst pipe or an overflowing appliance. However, it generally does not cover flood damage, sewer backups without the proper endorsement, or damage caused by long-term leaks or poor maintenance.
Depending on where you live, you may also want to consider adding flood insurance or water backup coverage for additional protection.
Loss assessment coverage helps pay your share of certain assessments charged by your condominium association following a covered loss. For example, if the association's insurance deductible is high or a claim exceeds the master policy's limits, unit owners may be assessed a portion of the remaining costs.
This important coverage can help protect condo owners from unexpected expenses that may otherwise come directly out of pocket.
Yes. Condo insurance typically includes personal liability coverage if you're legally responsible for injuries to another person or damage to someone else's property. Liability coverage may also help pay legal defense costs if you're sued following a covered incident.
Many condo owners choose higher liability limits or purchase an umbrella liability policy for additional financial protection.
The amount of condo insurance you need depends on the value of your personal belongings, interior improvements, and the coverage provided by your condominium association's master policy. You should also consider carrying enough liability insurance to protect your assets.
Your insurance agent can review your association documents and help determine the appropriate amount of coverage for your individual situation.
Several factors influence condo insurance premiums, including your unit's location, the building's age and construction, your claims history, deductible, coverage limits, personal property value, and available discounts.
Bundling your condo and auto insurance, maintaining a claims-free history, and selecting an appropriate deductible may help lower your premium.
You should review your condo insurance policy at least once each year and whenever you make significant changes to your home or belongings. Renovations, purchasing valuable personal property, changes to your condominium association's master policy, or major life events can all affect your insurance needs.
An annual insurance review helps ensure your policy continues to provide the protection you need while taking advantage of any available discounts or updated coverage options.
This one confuses even the best mortgage broker! But truth is almost every condo Assocation has different rules and by laws - therefore we understand!
Since you do not own the actual building, you typically only need to worry about the inside -or sometimes they refer to Studs In. Basically this is a Tenants/Renters policy on steroids!
First start with your stuff - imagine shaking your home upside down and all of your stuff falls out. Who much would it coast to replace all of those things (Clothes, Dishes, Furniture, TVs etc ). That is your Personal Property amount.
Then the tricky part. What does studs in mean? Usually it means that drywall, paint, carpet - all of that permanent stuff that is in-between the studs and your couch.
The absolute best way to make sure you are insuring your condo properly is to look to your Bylaws and see what the Condo Master Policy already covers. You just need to cover the rest.
When in doubt, you can always over insure... but only if you have no other choice. But we are here to help find a better way!
