Condominium

Why do I need condo insurance if my association already has a master policy?

Your condo association’s master policy usually covers the building’s exterior and shared spaces, but it doesn’t protect everything inside your unit. Condo insurance helps cover your personal belongings, the interior of your home, and liability if someone is injured inside your unit. It can also help with additional living expenses and special assessments not covered by the association’s policy.

How much condo insurance do I need?

The amount depends on the value of what’s inside your unit. A good place to start is taking an inventory of your personal belongings and estimating how much it would cost to replace them after a covered loss. If you own high-value items, you may want to add extra coverage. Your insurance agent can help you choose the right coverage for your needs and budget.

What is loss assessment coverage?

Loss assessment coverage helps when your condo association asks you to chip in for repairs to shared spaces like the roof, pool, or clubhouse after a covered loss. Instead of paying those costs on your own, this coverage can help cover your share.

Does condo insurance cover hurricane damage?

Our condo insurance policies cover damage from hurricane winds, but they don’t cover flooding caused by storms. To protect against flood damage, you’ll need a separate flood insurance policy. Chat with your insurance agent to make sure you have the right coverage.

Are upgrades or improvements to my unit covered?

Yes! Our condo insurance policies include coverage for upgrades and improvements you’ve made inside your unit, like new flooring, cabinets, or appliances. Sometimes this coverage is built in, or you might need to add extra protection. Chat with your insurance agent to make sure your upgrades are fully covered.