Condominium or condo insurance, as it is often called, is very similar to homeowners insurance with some distinct differences. If you own or live in a condo, chances are your association purchased a master policy to cover common areas like the exterior building and walkways. But you are responsible for insuring your personal property inside your unit. You need both personal property and liability insurance.
Carrying condo insurance can protect your furniture and other possessions from a wide range of hazards including fire, smoke, vandalism, collapse, theft, or a natural disaster such as rain, wind, or hail. This type of coverage is called Content Coverage and protects your personal property up to the amount of coverage you have.
If you have items such as jewelry, antiques, a coin collection, or high-value items, you may want to purchase additional insurance to cover the value of these items. Your standard policy will only pay a set amount which may not cover the value.
In addition, Condo insurance can also protect you in the event someone is injured or suffers personal property damage while in your condominium.
Call us today for a free quote. We will be pleased to get you the best possible rates and tailor a coverage plan to fit your needs and budget.