Condominium Insurance

Many condo owners overlook the gaps in their condominium association’s policy until something goes wrong. The building’s master policy typically covers common areas like hallways and shared amenities, but your unit and personal property are your responsibility. This is why condo insurance, or HO-6 insurance, is essential. It may provide financial support to help address risks specific to your unit, including replacing stolen items after a break-in and helping cover liability claims.

What Does My Policy Cover?

You can customize your condo insurance policy to include different types of coverage. Standard condo insurance policies usually include coverage for several key areas, including the following:

• Personal property coverage may cover your belongings, such as books, clothes and electronics, if they’re stolen or damaged due to risks like fire or vandalism.

• Dwelling coverage may cover the interior structure of your condo, such as walls, flooring and fixtures, if they’re damaged by an event listed in your policy.

• Liability coverage may provide financial assistance if you cause injuries or property damage to others.

• Additional living expenses coverage may help with temporary lodging, meals and related expenses if a covered event damages your condo.

• Medical payments coverage may help pay for minor medical bills if a guest is injured on your property.

How Much Does a Policy Cost?

Condo insurance rates vary based on factors such as location, coverage limits and the value of your belongings. Generally, premiums can be higher in areas with frequent natural disasters or high crime rates. You could also pay higher premiums if you need to cover high-end appliances or if you have previously filed claims.

Get a Quote

The Insurance Station is your partner in finding your optimal condo insurance. Contact us today for a personalized quote.