Your condominium is often the largest or one of your most significant investments. Whether the condo is your primary residence or a vacation home, it must cover potential damage from fire, theft, or other causes. Condo insurance in the United States works much like a regular homeowner’s insurance policy, other than parts of the dwelling and the common areas insured by your condo association. Still, each condo owner had unique circumstances. Our York Jersey Underwriters Inc. team will work with you to structure a policy to meet your needs.
What Does Condo Insurance Cover?
Condo insurance policies typically cover the following:
- Dwelling: cabinets, internal walls, and other permanent structures within your dwelling
- Personal Property: furniture, clothing, appliances, and other personal items
- Loss of Use: additional living expenses incurred if you must temporarily leave your dwelling due to damage
- Personal Liability and Medical Payments: Legal fees and medical bills if someone suffers an injury in your dwelling
Beyond the standard policy coverage, the nature of your association’s insurance coverage or your circumstances may suggest you consider protection for:
- Water and sewer backup
- Association assessments following broader losses
- Earthquake or flood damage
- Floater coverage for personal valuables such as jewelry and artwork
- Umbrella coverage
Additional coverage needs may apply if you do not live in your condo full-time and rent it out. We will take the time to review each option to see if they apply to your situation.
Working with York Jersey Underwriters Inc.
York Jersey Underwriters Inc. has experience covering various condo insurance issues. We will prepare a policy to meet your unique needs, as we likely have with your neighbors. So, call York Jersey Underwriters, Inc. today so we can work together to ensure you have the right condo insurance policy for your needs.