Protect your condo with reliable insurance coverage

The prospect of replacing all your possessions, fixing busted appliances, or paying others’ injury bills is pretty daunting. If you own a condo, it helps to have some backup.

Condominiums occupy a special category in real estate, so it’s no surprise they have their own unique insurance. Unlike the homeowners association’s (HOA) policy, which is already in place when you buy your condo, unit owner coverage is the policy you have to buy for yourself.

The right condo insurance policy will work hand-in-hand with your HOA insurance to make sure you’re financially protected from loss, damage, theft, and unforeseen expenses.

You can get dependable condo insurance to protect your personal belongings, liability, and much more through our trusted partners.

Every policy is designed to offer you affordable coverage and flexible payment options, and you can file claims anytime with 24/7 customer service.

What condo insurance covers

Most standard, individual condo insurance covers:

Personal property: Helps replace belongings stolen or lost in a covered incident (like a fire). Your stuff can even be protected on the go.

Personal liability: If someone is injured inside your unit, or you accidentally injure someone away from home, this helps protect your assets and savings.

Damage to unit structure: Unlike in an apartment, in a condo you own everything inside your unit’s walls — like carpeting, ceilings, and countertops. So, it’s up to you to insure them.

Additional living expenses: If your condo is damaged to the point that it’s uninhabitable, this helps relocate you and pay living expenses while repairs are made.

Cost of condo insurance

Because your condo association covers the outside of the building, among other things, you don’t have many of the worries or risks traditional homeowners do.

A typical condo insurance premium is determined using factors such as:

• Types and amount of coverage you choose
• Your personal claims history
• Weather risks
• Your deductible
• Your credit rating
• The value of your belongings

Most condo owners have a bevy of simple options to trim costs or score discounts. Buying multiple policies with the same insurer, installing security systems and smoke detectors, improving your credit, or raising your deductible can all result in savings.