Condo Insurance

Condominium Insurance is different than homeowners and renters insurance in that a Condo Insurance policy generally provides insurance for the interior structure while a homeowners provides for the exterior structure.  A Condo policy also includes insurance for personal belongings, loss assessment and liability.

• Personal belongings is insurance on the contents of your condo and you need to determine how much coverage you would need if you were to replace your contents based on today’s dollars, not the original purchase price.
• Liability provides coverage if someone is injured as a result of the owner’s negligence as it relates to a covered peril.
• Loss assessment is if the condo association has a loss and the condo association’s insurance is not enough to cover the loss, and the association is allowed to assess each unit owner in proportional shares for the associations loss.