Purchasing a condominium is a major investment – one you need to protect with condominium insurance.

When you own a condominium, your association provides certain limited insurance coverage protecting the structure and common areas. However, association policies do not provide complete protection for the interior and contents of your individual condo unit.

What Does Condominium Insurance Cover?

Your condo insurance policy is designed to cover your belongings and other personal property, as well as providing liability protection for you if a visitor or guest is injured while visiting your home. Specific coverage will vary from policy-to-policy. However, in general, condo owners’ policies cover losses that occur as the result of things like fire, lightning, tornado, frozen pipes and theft.

If a covered loss occurs, your condo policy can provide payments for losses or damage to your walls, cabinets, countertops, flooring, lighting and other fixtures – things that may not otherwise be covered under your association’s property insurance policy.

Your policy can also be designed to provide funds if you need to find somewhere else to stay while your unit is being repaired after a covered loss.

What Do Master Condo Association Policies Typically Cover?

In many cases, condo association policies simply protect the common areas and structure itself. In other communities, policies cover losses to the fixtures inside your unit but will not cover damage or losses to your personal property.

Every association’s policy is different. It is important to carefully review what your association’s policy covers – and to know what your by-laws require – so you can purchase a condo owner’s insurance policy tailored to meet your needs.

Talk to Us Today About Condominium Insurance

Condo unit owners’ insurance policies can be basic, or they can be designed to provide more extensive coverage. Talk to us today to design a policy that can give you peace of mind, knowing your investment in your home is covered from unforeseen losses.

 AAG Insurance is Your Local Expert For Condiminium Insurance in Harford County, Baltimore County and Maryland.