Condominium Insurance Protection
Buying a condominium means a new lifestyle — and new insurance needs. Whether you’re a prospective buyer or already own your unit, it’s important to understand what coverage you need beyond your association’s master policy.
Understanding Condo Insurance
Your association’s master policy covers common areas, but you’re responsible for insuring your personal property, interior improvements, and liability. Your personal policy must coordinate with the master policy to prevent gaps in coverage.
Master Policy vs. Personal Policy
Association Master Policy
- Building exterior and structure
- Common areas (hallways, lobby, pool)
- Shared amenities and facilities
- Grounds and landscaping
- Association liability
Your Personal Policy
- Interior walls, floors, and fixtures
- Personal belongings and furniture
- Improvements and upgrades you’ve made
- Personal liability protection
- Additional living expenses
What Your Condo Policy Covers
Property Coverage on the Unit
Covers portions of your unit including walls, partitions, built-in appliances, cabanas, carports, and any materials for alterations or improvements you solely own.
Personal Property Coverage
Protects your possessions in your unit, garage, storage areas, and common spaces. Also covers your belongings off-premises while traveling.
Additional Living Expenses
Reimburses extra costs for temporary housing, meals, and other expenses if your unit becomes uninhabitable due to a covered loss. Also covers lost rental income.
Personal Liability Coverage
Provides comprehensive liability protection for you and family members for claims of bodily injury or property damage to others — coverage applies worldwide.
Medical Payments to Others
Covers medical expenses if someone is injured in your unit, regardless of fault — helping avoid potential lawsuits for minor injuries.
Loss Assessment Coverage
Protects you from special assessments levied by your association if a claim exceeds the master policy limits. Basic coverage starts at $1,000.
What’s Typically Covered
Your condo policy protects both your unit and your belongings from common perils:
When to Contact Your Agent
The best time to review your condo insurance needs is after you’ve chosen your unit and before the closing. Your agent can:
Getting Started Checklist
Before purchasing condo insurance, gather these items:
Get a Personalized Condo Insurance Quote
No two condominiums are identical. Let our agents match your unique needs with the right coverage at the right price.
Request a Free QuoteOr call 1-800-942-0904
Coverage availability and terms vary by state and insurance carrier. This material is for informational purposes only. For a complete description of coverages, terms, and conditions, refer to your insurance policy.