Coverage Options
Your condominium association may cover the outer structure and common areas of your condominium, but what about the interior? Remember that your condominium association's insurance policy does not cover your personal property in your condo, or upgrades that you make to it.
If you’re counting on your condominium association’s insurance policy to cover your unit, you may have a risky gap in coverage. Protect your personal belongings and your assets by purchasing a condominium insurance policy.
More Details
A condominium insurance policy can provide coverage for:
Personal Possessions
Your appliances, dishes, electronics, clothing and any other valuables are protected. Use a Home Inventory Checklist to itemize your personal belongings.
Dwelling
Provides protection for the additions or alterations to your unit, and fixtures not covered by the condo association's policy. For example: flooring and wallpaper.
Liability
Your condominium policy may protect your assets from liability claims if someone is injured on your property or if you (or a family member) are accused of injury or damage to others.
Additional Living Expenses
If a loss occurs, your policy may cover temporary living expenses while you’re waiting for your home to be repaired. This may include shelter, food and relocation costs.
Additional Coverage
Ask your agent about covering unique or valuable items, like fine art or jewelry, by adding an endorsement to your policy.
Medical Payments
Provides protection to someone not living at your residence if they are injured on your property.
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