Condo Insurance

Protect Your Home & Auto

What It Is…

When you live in a condominium, your association has a policy that covers the exterior of each building, but a condo insurance policy will cover the inside of your own unit. Your condo insurance policy may cover your walls, your possessions, and your appliances. Condo insurance also protects you in the event that a visitor to your property is injured.

Who It Is for…

Condo insurance is for the owners of condominiums.

How It Works…

If your condo were to catch fire, you would file a claim with your insurance company. Most likely, your condo insurance policy will cover the things that the HOA insurance policy does not cover. This will be your furniture, your clothing, and other possessions. Condo insurance also includes medical payments in case someone is injured on your property. There will also be liability coverage. If your condo is so badly damaged that you need to reside elsewhere while it is being repaired, your condo insurance policy will pay these expenses.

Different Types of Coverage in Existence…

One type of coverage is called the “”HO6″” insurance policy. You would purchase this type of coverage if you are residing in the condo in question. If you are not a permanent resident of the condo, you may purchase “”vacant condo insurance.”” This is for you if your condo is unoccupied for longer than 30 days. Some insurance companies do not cover the damages if they occurred when the condo was unoccupied.

Major Benefits…

Accidents can happen when you are enjoying your condo with your friends. If this occurs and your friend gets seriously hurt, you will be happy that you have condo insurance because it will pay your friend’s medical bills in case of an accident. It would be unfortunate, but your friend could decide to sue you. In that case, your condo insurance policy will provide you with money to pay for your legal defense. The policy would also protect you in the event that your pet bites a visitor. If you do not have this coverage, you would possibly have to drain your bank account to pay all of the expenses.