Condo Insurance provides coverage for the inside of your condominium. The external areas fall under the jurisdiction of your Condo Association. The interior walls, appliances, personal property and valuables are covered under this policy along with Liability, Medical and Loss of Use. An optional coverage that is recommended is Loss Assessment, which protects you for any covered loss that the Condo association may incur.
Condo Insurance typically covers the following:
Building Coverage, Additions and Alterations, is a coverage that is optional. This would cover any changes that you have made to the interior of your unit, ie; remodel, new flooring, etc. Most Lenders are requiring 20% of the Condo Appraisal amount for Building Coverage.
Loss Assessment Coverage covers you in the event that there is a covered loss to the Condo Building. The Condo Association will assess each Unit Owner for a percentage to cover the loss. This coverage will provide you with the assessed fee.
American Integrity Insurance Solutions is an independent insurance consulting agency that partners with dozens of carriers to provide people with unbiased advice on a variety of insurance products.
Our team is readily available to craft a policy that custom fits to your needs. We promise to not only provide a policy fulfilling your specific needs, but also to help you understand how and what it protects you against.