Does Your Condo Association’s Insurance Cover You?

If you own a condominium, you might assume your condo association’s insurance policy has you fully covered. However, that’s not entirely true. While the association’s insurance offers important protection, it doesn’t cover everything, especially concerning your personal property and liability.

What Does Condo Association Insurance Cover?

A condo association’s insurance, often called a master policy, typically covers the building’s structure, common areas (like hallways, lobbies and elevators) and shared amenities (such as pools or gyms). Depending on the policy type, it may also cover the interior structure of your unit, like walls, floors and built-in fixtures.

Condo association insurance doesn’t cover your personal belongings, such as furniture, electronics, clothing and valuables. It also won’t protect you from liability if someone is injured inside your unit or if you accidentally cause damage to another unit (like a kitchen fire or water leak).

That’s where your own condo insurance policy, known as HO-6 insurance, comes in. This policy can fill the gaps by covering the following:

• Personal property inside your unit

• Liability protection for accidents or injuries

• Loss of use coverage for if your unit becomes uninhabitable

• Improvements and upgrades you’ve made to your unit

• Loss assessment coverage for shared damage costs not fully covered by the master policy

Learn More

For condo insurance near you, contact Alliance General Insurance Agency.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.