Condos aren’t insured in the same way as single family homes. While your condo association should have a master insurance policy, those types of policies typically only cover the property and liability of the condo association, including common areas and physical structure of the building. So it’s important that you buy a personal condo insurance policy to protect yourself. A personal condo insurance policy can provide you with protection for:
Your personal belongings, whether they are in your condo unit or somewhere else.
The improvements, upgrades and customizations you’ve made to your unit to make it your home.
Your assets, in the event someone makes a claim or sues you for bodily injury or property damage.
Damage to the contents of your unit from theft, fire, lightning, wind, hail, smoke and more.
Your insurance needs typically start with anything that’s inside the walls of your condo, plus personal liability protection.
Bundle your condo insurance coverage with an auto insurance policy to save. You can also consider increasing your deductibles to bring your premium down.