CONDOMINIUM INSURANCE
Contact
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Landline: (227) 250 - 0009
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Licensed in MD, PA, NJ, VA, DE
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For Business Entities and Individuals
Condominium Insurance
Condominium (condo) insurance is sometimes referred to as a condo unit owner's policy. For owner-occupied condos, this policy may be required by the mortgage lender to provide coverage for the unit, which covers damages to the interior of your unit, loss of personal property, and liability claims. Commonly covered risks include fire, lightning, and theft.
Landlord Condominium Insurance
If you rent out your condo, you may need a landlord condominium insurance policy instead of a standard condo owner’s policy. Coverage for tenant-occupied condos varies by state, and the master insurance policy provided by your condo association may not cover all risks. It’s important to check both state regulations and your condo association’s coverage to ensure proper protection.
Coverages
Condominium (Condo) unit owner's policy typically covers:
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Dwelling (Interior) Damage To The Unit (A master insurance from the condo association might has certain coverages for the entire building. Please check with your association for the specific coverage if your mortgage lender or yourself concerned)
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Personal Property (some high valued belongs might need to be scheduled)
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Additional Living Expense (when you cannot live in your home because of the loss covered)
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Personal Liability (some one is injured, or her/his belongs is damaged when you are liable)
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Medical Payment (for people who is not you, or not your house members)
Landlord condo insurance typically provides you with the coverages:
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Dwelling (Interior) Damage To The Unit (A master insurance from the condo association might has certain coverages for the entire building. Please check with your association for the specific coverage if your mortgage lender or yourself concerned)
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Loss Of Use (when your tenants cannot live in this rental property because of the loss covered)
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Premises Liability (protect you from bodily injury or property damage arising from the use of your rental property)
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Medical Payment (not to you or anyone who is a regular resident on the property)
Coverage for dwelling (interior) damage to a condominium unit may vary by state. Additionally, the master insurance provided by the condo association can differ across the country. We recommend checking with your state and condo association to understand the specific requirements. Alternatively, feel free to contact us for guidance on your unique situation—we are happy to ensure your insurance is properly tailored to your needs.