Condominium Insurance
Condominium Insurance Information
Coverages
Condominium Coverage
Coverage for your condo and other structures at your residence for which you're responsible.
Personal Property
Your personal possessions are covered anywhere in the world.
Personal Liability
Provides coverage for incidents occurring anywhere in the world and can help protect against lawsuits for which you may become liable.
Additional Living Expenses
Pays for expenses if you are unable to stay in your condo after a covered loss.
Medical Payments to Others
Coverage for others who are injured at your residence.
What is condominium insurance?
Condominium insurance is similar to homeowners insurance but is designed for the specific needs of condo living. Many families choose condos because of the convenience of on-site maintenance and access to community amenities. In this environment, the main structures of all buildings and common areas are covered by an insurance policy held by the condo association. However, a personal condo insurance policy may cover property damage and liability risks of the unit owner.
What are the benefits of condominium insurance?
Condo insurance is beneficial for all condo owners as well their visitors. In fact, most mortgage companies require condo owners to purchase a policy for the duration of their loan. Condo insurance may cover damaged, lost or stolen property due to fire, theft or natural disaster. This protection could extend to interior furnishings, including walls, flooring, ceilings, appliances and fixtures. In addition, this type of policy could cover you against liability claims. If you are found liable for a visitor’s injury, condo insurance could cover associated medical expenses and/or legal fees.
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