You’ve made a smart investment with your condo purchase—now protect it.
The pleasures of owning a condominium are many. The right condo insurance policy puts your mind at ease.
Know the basics about condo insurance.
- When you own a condominium, you—not your condo association—is responsible for your personal belongings inside your condo.
- Condo insurance protects from perils such as fires, frozen pipes and theft.
- As a condo owner, your association may look to you to share costs for repairs and lawsuits not covered by the association’s master insurance policy.
- You’ll want to insure improvements made to your unit, not covered by your association agreement or the association’s master insurance policy.
- Personal liability provides coverage for bodily injury and property damage to others for which you are held responsible.
Talk to your WE Insure agent today to choose the right condo insurance for you.
Condo Coverage offered by WE Insure Top-Rated Carriers:
- Property Coverage
Property Coverage covers your real property for which you are responsible under your condo association agreement, including building additions and alterations, installations or additions that are part of your unit and your insurance responsibility.
- Personal Property Coverage
Personal Property Coverage protects the contents of your condo, such as clothing, furniture, TVs and appliances. Certain possessions may be excluded or have only limited coverage.
- Bodily Injury and Medical Payments
Bodily Injury Coverage covers accidental bodily injury caused by you or your immediate family living in your condo. Some carriers’ policies may include injuries caused by your pets.
- Medical Payments Coverage
Covers medical injuries that occur on your property that are not intentional to someone else.
- Personal Liability Coverage
Covers injuries to someone or damages to someone else’s property for which you are liable. Your condo insurance Personal Liability Coverage may pay any court judgments against you for covered losses, up to the condo insurance policy limit.
- Damage Protection Coverage
Damage Protection Coverage protects against financial loss from such dangers as fire, plumbing freezes, vandalism, glass breakage and other dangers up to coverage limits.
- Scheduled Personal Property
Scheduled Personal Property coverage provides higher limits and, with some policies, worldwide protection for valuable items such as furs, jewelry, fine art, silverware, personal computers, cameras, firearms and musical instruments for an extended variety of losses.
- Loss of Use Coverage
Loss of Use Coverage covers necessary living expenses should you need to live elsewhere after a fire, explosion, tornado or other insured loss that severely damages your condominium unit. The amount of coverage may be either a dollar value or limited to your actual costs for up to a specified time. Review this valuable coverage with your WE Insure agent.
- Loss Assessment
Your condominium association may assess unit owners for a loss exceeding the amount of coverage in the association’s master insurance policy resulting from damage to commonly owned property as described in your condo association agreement. Likewise, your association may assess unit owners for personal liability claims against the association that exceed coverage in the association’s master insurance policy. Loss Assessment protects you in the case of such assessments.