Condo Insurance

Condo insurance is a special type of insurance for condominium owners. Condo owners have different insurance needs from other home owners. This is due to the shared responsibilities that are associated with condo ownership. Your condo association is responsible for purchasing a master policy covering the structure of the building, its exterior, and other common areas within your complex. However, this coverage does not eliminate the need to obtain your own policy.

Condo insurance is designed to supplement the master policy - avoiding gaps in coverage while preventing the need to pay for duplicate protection. It provides coverage for your furniture, appliances, personal property and other items that are not already covered by your condo association's policy. It also provides liability protection for injuries and damage for which you are liable.

Condo Insurance Coverage

The amount of condo insurance coverage you require depends on the coverage obtained by your condominium association. Before you buy condo insurance you should be aware of the specific coverage provided by your association's master policy so you can determine how much additional protection you require.

The insurance coverage provided by the master policy is governed by your condominium association's bylaws and, in some cases, state laws. For example, some condominium associations are required to obtain coverage for the entire unit as it was originally built, including the carpets, wall furnishings, and cabinets, but excluding any additions or renovations made by you or previous owners.

Other associations only required to insure the bare walls, floor and ceiling. This means you need coverage for all of your interior furnishings, and possibly the interior walls, plumbing, and wiring of your apartment.

Condo Insurance Quotes

Comparing condo insurance quotes is the most effective way to find the best rate. Always obtain multiple quotes before you buy condo insurance. You can save money by shopping around, but searching for the best quote takes time. That's where we can help.

We are independent specialists in obtaining condo insurance quotes. We can help you find the right condo insurance policy for your needs at the best available rate. Simply complete our easy online form, starting with you zip code above, and we will arrange quotes for you to compare from leading insurers in your state.

Disclaimer: This article is provided for informational purposes only and should not be considered a substitute for professional advice. Please read your policy carefully and talk with your insurance agent to determine your actual coverage, which may differ from that described above.