Condo Insurance

Our first priority is helping you take care of yourself and your family. When you own or are purchasing a condo unit, the required insurance can be confusing. The homeowners association typically covers the structure, and as a condo owner, you're responsible for the inside walls as well as your personal property. A condominium policy will give you the coverage YOU need to protect yourself and your family.

It's important to know what your HOA master policy covers, so you know how to structure your own policy. And so you know how much Building coverage you need to carry to be sure you're properly insured. Be sure to speak to your HOA manager, so you're educated on what coverage you need to dovetail with their policy. HOA master policies vary, so equip yourself with your best education before calling for a condo insurance quote.

You could see one of three approaches used when purchasing condominium insurance - 

1. Bare Walls - master policy insures only the bare structure of the building, and the unit owner insures interior walls, improvements, betterments and additions, as well as appliances, flooring, wallpaper, cabinets
2. Single Entity - master policy covers the entire structure including the individual units, and DOES NOT cover improvements and betterments made to the individual unit by the unit owner.
   
3. All Inclusive (or All In) - master policy covers the entire structure including the individual units and to include improvements, betterments and additions made to the individual unit by the unit owner.

Though your condo homeowners association might provide a master policy, you'll want your own policy to satisfy your mortgage requirements, as well as to insure your personal property and personal liability.  At Insurance121, we can provide condo insurance whether you've lived in your home a long time, or are just purchasing and need coverage quickly. Just give us a call for a quick quote.