Condo Insurance

What Is Condo Insurance?

Condo insurance protects your individual unit and personal belongings within a condominium. While your HOA's master policy covers the building structure and common areas, you need your own policy to protect your unit's interior, personal property, improvements, and provide liability coverage.

Why You Need Condo Insurance

• Required by mortgage lenders and most HOA agreements
• Covers improvements and upgrades you've made to your unit
• Protects your personal belongings from theft or damage
• Provides liability coverage if someone is injured in your unit
• Fills gaps in your HOA's master policy coverage

Common Coverages

Dwelling coverage protects your unit's interior, including walls, floors, cabinets, and fixtures. Personal property coverage replaces your belongings like furniture, electronics, and clothing. Loss assessment coverage helps pay for your share of HOA claims that exceed the master policy limits. Liability coverage protects you from injury and damage claims. Additional living expenses coverage pays for temporary housing if your unit becomes uninhabitable.

How Does Condo Insurance Work With My HOA Policy?

Your HOA's master policy typically covers the building exterior and common areas. Your condo policy covers everything from the walls in. Review your HOA's policy to understand where their coverage ends and yours begins, ensuring you have adequate protection.