Condominium Insurance
Condo Insurance
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CONDOMINIUM INSURANCE
Condo Insurance
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Condo Insurance Coverage Options
Your association’s master policy may not cover everything in your unit. HO-6 insurance helps protect belongings, interior features, liability, and living expenses.
Personal Property Coverage
Helps protect the belongings inside your condo
Helps repair or replace belongings like furniture, clothing, electronics, and appliances after a loss. Coverage subject to deductible, limits, and exclusions.
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Loss of Use Coverage
Helps with certain extra expenses if you cannot stay in your condo
If your condo is temporarily uninhabitable after a covered loss, loss of use coverage may help pay for temporary housing, meals, and other living expenses.
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Personal Liability Coverage
Helps protect you financially from certain liability claims
Condo liability coverage may help with certain legal expenses, settlements, or judgments if you are found legally responsible for injuring someone or damaging another person's property. Coverage applies according to the terms and limits of policy.
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Dwelling Coverage
Helps protect covered portions of your condo's interior
Condo dwelling coverage may help repair covered interior features of your unit, such as walls, flooring, cabinets, fixtures, or improvements that are your responsibility. What your individual policy needs to cover can depend on the protection provided by your condo association's master policy.
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Condo insurance coverage, availability, limits, deductibles, exclusions, and responsibilities vary by carrier, policy, and condo association master policy.
Condo Insurance FAQs
Find answers to common condo insurance questions.
What does condo insurance cover?
Condo insurance can help protect your personal belongings, the interior of your unit, personal liability and additional living expenses after a covered loss. Coverage varies by policy and by what your condo association's master policy already covers.
Is condo insurance required?
Condo insurance is not generally required by law, but your mortgage lender or condo association may require you to carry an individual condo insurance policy.
How is condo insurance different from homeowners insurance?
Homeowners insurance typically protects the house itself as well as your belongings and liability. Condo insurance generally focuses on the interior of your unit, personal property and liability because the condo association usually insures the building's shared structure and common areas.
What is loss assessment coverage?
Loss assessment coverage may help pay your share of certain covered losses or liability expenses assessed to unit owners by the condo association when the association's insurance does not cover the entire amount.
Do I need condo insurance if my association has insurance?
Usually, yes. A condo association's master policy generally covers common areas and portions of the building, but it may not protect your personal belongings, upgrades inside your unit, personal liability or additional living expenses.
What is an HO-6 condo insurance policy?
An HO-6 policy is a type of insurance designed for condominium unit owners. It can provide coverage for personal property, certain interior portions of the unit, personal liability and other covered expenses.
Does condo insurance cover water damage?
Condo insurance may cover certain sudden and accidental water damage, depending on the cause of the loss and the policy terms. Flood damage and some other types of water damage generally require separate coverage or may be excluded.
How much does condo insurance cost?
Condo insurance premiums can vary based on your location, coverage limits, deductible, building characteristics, claims history and other factors. Comparing coverage options can help you find a policy that fits your needs and budget.