In short, condo insurance, also known as H06 insurance, covers what the condo association won’t cover. This is typically the interior of your unit. Condo insurance also provides liability coverage for any damage to others’ property or injuries that your guest might incur while in your condo. However, condo owners should always read the fine print to discover exactly what is covered as well as what’s not covered. Our team at Midwest Professional Insurance is committed to educating condo owners on what’s covered under condo insurance as well as the other benefits associated with this type of insurance.
The ABCs of What’s Covered Under a Condo Insurance Policy?
Your personal items, as well as any damage to the interior structure of your unit, fall under a condo insurance policy. This can include damage caused by natural disasters and other situations that include theft and vandalism. Fire, wind, and hail, are examples of natural disasters that would fall under a condo insurance policy in the event of damage caused by these natural disasters. However, certain situations that involve water damage may fall under a flood insurance policy rather than your condo insurance policy. As stated above, condo insurance also provides coverage for any injury or damage to the personal property of your visitors while they are in your unit. Some policies may cover living expenses if you must vacate your unit while it is being repaired.
Conversely, the condo association’s insurance covers damage to the exterior of the condo, as well as the common areas. This includes the land outside of your building as well as the stairs, elevators, lobby, and anything else on the property. It also covers any injuries that may occur in the common areas of the condo. If you have questions regarding what condo insurance covers, give us a call. Our team at the Midwest Professional Insurance company is standing by.
