Condominiums are a popular option for living quarters because they offer privacy without the constant maintenance needs of a single-family home. However, condominiums need similar insurance coverage to cover a variety of hazards that can occur. At Allegiance Insurance Group, we can answer your questions about the condo insurance coverage you need to protect you against losses.
Your condominium association will carry a master insurance policy for the external condominium structure and for common areas that are shared. However, this policy does not provide coverage for the inside structures of your condominium, nor for any of the contents, such as your personal items. As a result, if you experience a significant, damaging event, you may be faced with the expensive costs of restoring your condo interior and replacing your goods. Condo insurance is designed to provide additional coverage for these items, so you don’t have to dip into savings or incur further debt.
You should always get a copy of your master policy to help determine where your exposure for loss lies and what type of insurance will best serve your needs. Fire, theft, and vandalism losses can be covered with most individual condo policies. Water damage may not be covered and could leave you with expensive repairs and restoration if an adjacent condo has a broken pipe or washing machine failure. Liability coverage offers protection if someone is injured on your property or in shared areas.
Our experienced agents can answer your questions about condo insurance and help you determine the right level of coverage for your needs. We offer a variety of insurance products for our clients, including policies for auto, home, life, health, and business. Contact Allegiance Insurance Group for a free, no-obligation quote on condo insurance that will help avoid expensive losses from unexpected events.