Condo Insurance – Dwelling Coverage
If your moving into a condo unit or you own one now you will need a HO6 Homeowners Insurance policy, or what we refer to as a Condo Insurance. This insures the interior of your condo- Drywall, wallpaper, wall covering, carpeting, flooring and built ins, (e.g. bookshelves or built in cabinets etc,.). Condo Insurance is the coverage you need to protect your part of the building; your condo unit, unless all units are covered under a Master Policies. You should in any case ask if there is a Master Policy and what insurance does it provide (*read more below).
Your most likely in a condo association, in that case all condo owners take responsibility and ownership for the common areas, exterior of building, AC and heating etc. Your condo units interior however is your responsibility, so it is important that you protect your investment.
*Master Policies Some condo associations provide “All in” coverage in their Master Policy. This would mean all the condo units in the building would be covered. Ask to see if you’re covered. If the master Policy doesn’t cover your unit then you will need your own Dwelling Insurance Coverage.
Dwelling Covers usually protects you from the following:
- Water damage from plumbing, or appliances
- Electrical surges
- Smoke and or Fire damage
- Wind Damage and or Lightning
- Gas Explosions
- Tree damage – falling items
- Riots & civil commotions
- Damage to apartment by vehicles & aircrafts
- Theft, Vandalism & malicious mischief
- Weight of ice, snow & sleet
Condo Insurance does not cover damage caused by the following:
Floods, Earthquakes and in many states, hurricanes. You can purchase an endorsement to cover each of these risks. There may be other exceptions you should check with your Cantiani Insurance Agency Agent to learn more about this coverage.
In the event that your building Master Policy provides some coverage for your condo, most condo owners still take out a policy for their unit, even a $10,000 policy with a $500 deductible might make sense. And help you sleep better at night.
You can learn more about personal property insurance, liability and medical payments here on our personal insurance page.
For more information contact an agent at Cantiani Insurance Agency at 318 Plantation Street, Worcester, MA 01604. Phone: 508-791-2088 we’ll be glad to help! Or fill out the contact form below.