For condominium owners, condo insurance provides valuable protection against a host of perils. Similar to homeowners insurance but specifically designed for condominiums, condo insurance may protect a unit from hurricanes, theft, fire, and more. If you own a condo, you don’t want to be caught without this insurance.
Condo Insurance Coverage
Every condo insurance, like every insurance policy, is comprised of several different coverage options, which are each detailed in the policy's terms and conditions. You should review your policy's details carefully, as exclusions and limits on coverage can vary from policy to policy. Some common coverage options that you might want to consider include:
- personal property coverage, which may insure your belongings for their full replacement value or their depreciated value
- liability coverage, which may provide a broad range of protection or only insure against a limited number of accidents
- guest medical coverage, which may be included in your policy or added as an optional coverage
In addition to these coverage options, most condo insurance policies also provide insurance for your unit. They don't insure the entire building, because you, as a condominium owner, don't own the entire building. Your policy should, though, protect your unit and its permanently installed fixtures, as these are things you do own.
Independent Condo Insurance Agents
When shopping for condo insurance, it’s important to work with an independent insurance agent. Only independent insurance agents, who don’t work for a specific insurer, are able to compare policies from all of the insurance companies. Only we can shop every insurer’s policies to find you one that provides the most comprehensive and affordable coverage.
To speak with an independent insurance agent who is licensed in Colorado, Illinois, Indiana, Florida, Michigan, Wisconsin, or Wyoming , call us at Johnson & Boge Insurance Group. Serving these seven states, condo insurance agents at our agency have helped many condominium owners, and we'd be happy to assist you.