Types of Condo Insurance Coverage
Condo and co-op units are typically at risk to the same types of disasters, damages, and liabilities as any other residence. Whether you are renting or a condo homeowner, you’ll want to make sure you have a good understanding of your HO-6 insurance needs and options. Before putting together a list of condo insurance quotes, you may want to consider the following:
What does your condo association cover
Most condo associations provide coverage for common rooms and exterior damages, but you will want to review your association’s specific coverage to know what you will be responsible for protecting.
Whether or not you need additional coverage
Maybe your condo is situated in a floodplain or near a Faultline and you need specialty coverage; maybe your unit has a steep hill for a driveway, and you think you’ll need additional liability insurance, just in case. Your situation is unique, working with an expert can help ensure you have the coverage you need, and you avoid overlooking a potential problem that could leave you underinsured.
What personal belongings you want protected
Maybe you have a special family heirloom, jewelry, or another expensive item you want protected, make sure your condo insurance policy’s personal property coverage is adequate to replace or restore it in the event of damage, destruction, or burglary.
