Protect Your Condo: Home Insurance Must Haves

Condo home insurance is a necessary purchase for any owner, even if your association has insurance. Association's insurance covers everything except the inside of your condo, including your walls, fixtures, and possessions.

Condo Insurance Needs

As a condo owner, you need your own insurance to cover your belongings in case they are stolen in a burglary. You also need coverage in case there is water damage to your walls and/or ceilings. Liability insurance, which will support you if someone gets injured in your condo, must be gotten privately as well. You will also need your own insurance if you cause damage to an area covered under the association's insurance.

Common Options

Replacement coverage, which is more expensive, reimburses you with the full monetary value of your lost items. High value item coverage protects your valuables such as jewelry and family heirlooms. Flood and earthquake coverage, which is excluded from most condo home insurance policies, is important to purchase if you live in a vulnerable area.


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