Condo Insurance: Coverage Fundamentals
If you live in a condo in Largo, your condo association probably provides some level of rudimentary insurance coverage. Typically, such coverage is limited to one of the following three types of policy:
- Coverage for the complex’s primary building and common areas
- Coverage for each building and items within each unit considered to be the property of the condominium complex
- Coverage for each building, individual unit, and any fixtures or improvements to the unit made by the occupant.
Condo Insurance Liability Coverage
Condo association coverage also typically features a small level of personal liability coverage. For most occupants, however, this coverage won’t offer sufficient protection against every possible liability.
For example, if a guest suffers an injury or property damage while in your condo, association coverage may not be sufficient to cover the damages—especially if you get sued. Additionally, condo occupants themselves get no coverage at all for injury or property damage. That’s why coverage is so important. Let us help you with your Largo condo insurance policy.
Know Your Condo Association Coverages
If you’re a condo owner, it’s crucial to know the types and amounts of courtesy coverages provided by your condo association. Understanding those built-in coverages will help you make informed choices regarding condo insurance and the coverages you need to gain maximum protection.
What Are Condo Insurance Exclusions?
As with home insurance policies, condo insurance doesn’t cover specific peril types:
Multi-Policy Condo Insurance Discounts
If you purchase condo insurance through a Business & Family Insurors carrier, you may be eligible for discounts if you’re an existing Business & Family Insurors policyholder. Whether you’re an existing customer with our agency or not, ask about our multi-policy discounts when you bundle condo insurance with other policies.
