Condo Insurance from Gulf Harbor Insurance

Much like owning a house, owning a condo is a testament to years of hard work and dedication. When you own a condo, you’re responsible for what’s inside your unit, not your condo association. Typically, condo associations have a master policy that covers the association property, common areas, and the physical structure of the building. The master policy does not cover the interior structure of your condo or your legal responsibility to others. That’s where condo insurance becomes important.

As a condo owner, you have a unique set of requirements when it comes to protecting your property because your building and individual unit have separate needs. While your condo association may have an insurance policy, the only way to protect your individual unit is to have condo insurance.

What’s covered by condo insurance?

A basic condo insurance policy will cover damages to most of your personal belongings as well as walls, floors, ceiling covers, etc. With condo insurance, damage to improvements or additions to your unit are also covered. Most policies include coverage for loss resulting from:

• Fire or lightning
• Windstorm or hail
• Smoke
• Theft (limited) or vandalism
• Accidental discharge of water

Condo insurance policies typically cover:

• Damage to your furniture, appliances and other personal items
• Your personal belongings
• Common loss assessments made by the condo association
• Your personal liability in the event someone is injured on your property