Condominium Insurance

Your ownership of a personal condominium unit presents you with a number of insurance needs. The definitions of who owns what can differ from one complex to another. The unique aspects of property ownership in a condominium can expose you to potential losses in a number of different ways. We urge you to contact your condominium association for advise and review your condominium master deed and by-laws to determine your unique needs. A condominium unit-owners policy is a type of homeowners policy designed to assist you in purchasing the necessary protection.

At a minimum you need to buy insurance for contents and personal liability. Just as in any home policy, your contents should be insured for replacement cost. This is an additional coverage enhancement available at very little cost. Your liability insurance should be enough to cover any expected lawsuit from your personal activities. If you feel you need to be sure of adequate liability coverage, we always suggest the purchase of an umbrella liability policy.

Because of the unique aspects of condominium ownership you may need to insure some of the "building" in your unit, that is the walls, ceilings, permanently installed features, and flooring. Your association may also insure these items for you. You must determine this need by reviewing the legal documents that define your ownership of the unit. Usually these documents will also spell out the insurance responsibilities. We usually recommend that you buy at least some 'building" insurance to cover any improvements you make to the unit, or any potential short fall in the association policy. Some condominium documents require the unit-owner to insure the entire interior of their unit. In this case you will need to buy a substantial amount of building coverage.

Finally, because a unit-owner is a member of an association of other unit-owners, it is possible to be assessed for losses to the association. You should purchase adequate liability insurance for this exposure. The standard policy provides only minimal coverage for this loss.

If you want a quote for a unit-owners policy, please submit a request for a homeowners policy to us disregard those sections pertaining to the house.

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