Condominium Insurance

Condominium living offers a unique blend of convenience and shared responsibilities. While your homeowners association (HOA) typically covers the exterior of the building and common areas, you must secure your individual living space with condo insurance. Also known as HO-6 insurance, condo insurance provides coverage for your personal belongings, structural improvements and personal liabilities.

What Does Condo Insurance Cover?

Condo insurance policies typically include the following coverage:

• Personal property coverage—Condo insurance plays a key role in financially safeguarding your personal belongings. If insured events like fires, theft or vandalism occur, your policy can assist in replacing or repairing items such as furniture, electronics, clothing and other personal possessions. It’s crucial to create an inventory of your belongings and assess their value to guarantee you have sufficient coverage.
• Personal liability coverage—Condo insurance may include liability coverage, shielding you from financial consequences if someone sustains injuries while on your property. If you are deemed responsible for injuries or property damage, your insurance can assist in covering medical expenses, legal fees and associated costs. This coverage is essential for safeguarding your assets and ensuring financial security in potential lawsuits.
• Additional living expenses coverage—If a covered incident renders your condominium temporarily uninhabitable, this coverage can assist with supplementary living expenses like temporary lodging, meals and essential costs while your unit undergoes repairs or reconstruction.

Why Do I Need a Condominium Insurance Policy?

Condo insurance is crucial for covering your personal belongings, financial assets and liability risks associated with owning a condo. It’s essential to review your condo association’s master policy and understand what it covers to ensure you have adequate coverage in place. Contact Casual Insurance Group to discuss your condo insurance needs. We can make policy recommendations based on your unique situation.