top of page
12647348_1396 [Converted]-01-01.png

CONDO INSURANCE

Modern Townhouses

Condo insurance, also known as condominium insurance or HO-6 insurance, is a type of insurance coverage designed specifically for condominium unit owners. It provides protection for the individual unit and the personal belongings of the condo owner.

Condo Insurance
COVERAGES

Condo insurance, also known as condominium insurance or HO-6 insurance, is a type of insurance coverage designed specifically for condo owners. Unlike homeowners insurance, which covers both the structure and the land, condo insurance focuses on protecting the interior of the unit and the personal belongings of the condo owner.

 

Condo insurance typically includes the following coverages:

Dwelling Coverage

This coverage protects the interior structure of your condo, including walls, floors, ceilings, fixtures, and built-in appliances. It helps cover repair or replacement costs in case of damage caused by covered perils, such as fire, water damage, or vandalism.

Personal Property Coverage

Personal property coverage provides protection for your personal belongings, such as furniture, electronics, clothing, and appliances. It helps cover the cost of repairing or replacing these items if they are damaged, destroyed, or stolen.

Liability Protection

Liability coverage is crucial in case someone is injured inside your condo unit or if you accidentally cause damage to someone else's property. It covers legal fees, medical expenses, and any settlements or judgments if you are found liable for the injury or damage.

Loss of Use

Loss of Use coverage helps with additional living expenses if you are unable to reside in your condo due to a covered loss. It covers costs like temporary accommodations, meals, and transportation until your unit is repaired or made habitable again.

Loss Assessment Coverage

This coverage protects you against special assessments imposed by the condo association for covered damages to shared areas or the building's exterior. It helps cover your portion of the assessment

It's important to note that while the condo association's master insurance policy may cover the building's exterior and common areas, it typically does not provide coverage for the interior of individual units or personal belongings. Therefore, having condo insurance is essential to ensure your personal assets and liability are adequately protected. When selecting condo insurance, it's advisable to review the condo association's master policy and understand its coverage limits and exclusions. This will help you determine the appropriate coverage limits for your personal condo Insurance policy. Consulting with an insurance professional can assist you in selecting the right condo insurance coverage based on your specific needs and the requirements of your condo association.

Annagard Insurance Agency is always here for all your insurance needs. Please feel free to call us at any time, we will be delighted to speak with you.

bottom of page