Condo Insurance Coverage
Condo Insurance Coverage in a Standard Policy
What does standard condo insurance cover?
Different Types of Condo Insurance Coverage
Coverage for Your Home
Condos are large buildings, but only one small part is your home. This coverage protects the portion of your condo unit that you are responsible for, including the walls, floors and cabinets.
Personal Property Coverage
This coverage accounts for a variety of situations that could result in loss or damage to your condo and your personal property. Covered events include various weather phenomena, power surges, water damage and more.**
Coverage for Living Expenses
Certain circumstances may render your condo unlivable for some time. This protection helps cover the additional cost of a hotel stay and other living expenses, such as food. Fair rental value is available as a separate purchase.
Liability Protection Coverage
This addition may help provide financial protection for covered liability claims and lawsuits brought by others for accidental bodily injury or damage to their property that are accidentally caused by you, your children or pets.
Coverage for Medical Expenses
When an accident involves bodily injury to others, count on this coverage to help take care of medical payments up to policy limits. It applies regardless of your legal responsibility.
Additional Condo Insurance Coverages
Save for the Unexpected with Diminishing Deductible Coverage
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*This information represents only a brief description of coverages, is not part of your policy, and is not a promise or guarantee of coverage. If there is any conflict between this information and your policy, the provisions of the policy will prevail. Insurance policy terms and conditions may apply. Exclusions may apply to policies, endorsements, or riders. Coverage may vary by state and may be subject to change. Some products are not available in every state. Please read your policy and contact your agent for assistance.
**Your policy provides limited coverage when surface water comes into your home from a human made source such as sprinkler systems, garden hoses and swimming pools. However, if the release of water from these sources doesn’t occur on your property, the resulting water damage is not covered. Your policy excludes water damage from all other sources when water comes into your home. Your policy excludes water damage due to sewer back-up, septic back-up and sump overflow unless special coverage is purchased for this type of loss. Please see your agent for details on this coverage.
***May not be available in all states. Some restrictions apply to seasonal homes and manufactured homes. The leak must occur from within a plumbing, heating, A/C, fire sprinkler or a home appliance. Refer to your policy documents for coverage limit details. Coverage applies after the property deductible has been met. Mold damage limited to coverage limits provided by your homeowners policy.
†Diminishing Deductible does not apply to all property deductibles. Named storm deductible applies only to GA. Policy maximum limits are $1000 for homeowners and $500 for renters, condo and manufactured homeowner policyholders. This coverage is not available in MN at this time.