Based in Long Island, NY.
CONDO/ CO-OP INSURANCE
What does condo insurance cover?
Your condo association’s insurance policy likely covers certain aspects of your condo, such as common or shared areas. As a result, it may cover your condo unit, but not any improvements you make or fixtures you add to the condo. It also won’t cover your personal possessions. Your policy is designed to make up for this shortfall. It’s a mixture of the better-known landlord insurance and renters insurance but is specially designed for your particular condo.
Protecting your personal property in your condo.
Condo insurance covers your personal belongings inside your condo unit. That means everything from your appliances to your clothes may be covered in the event of a loss. Without it, you would have to replace your lost or damaged possessions out-of-pocket. Your policy may also cover damage caused by theft, fire, severe wind, lightning strikes, and frozen pipes. It’s important to note, however, that condo insurance does not usually cover flooding.
Know your liability coverage options when living in a condo.
In addition to property coverage, condo policies may also include liability coverage. For example, if a guest is injured in your condo, it may pay for their medical expenses. It may also cover you in the case of a lawsuit if you are responsible for damages to another condo property. Additional living expenses may also be covered if there is damage to your condo unit that renders it unlivable.
Cooperative and Condominium Homeowners insurance protects you and your family for both property and liability risk exposures in one package policy. There are several kinds of Cooperative/Condominium Homeowners policies, but these are the six fundamental types of coverages provided:
- Dwelling/Improvements & Alterations
- Personal Property/Contents
- Loss of Use/Additional Living Expenses
- Personal/Family Liability
- Medical Payments
- Loss Assessment
Condo Insurance Quote Request
The benefits of getting coverage for your condo.
It may seem confusing to figure out exactly what coverage you need for your condo unit. The most important thing to know is that condo insurance is typically inexpensive in comparison to the potential out-of-pocket costs of replacing your personal belongings.
Hunter Robert Insurance Agency
510 Hempstead Turnpike STE 212, West Hempstead, New York 11552, United States
Phone: (516) 418-8000 Email: info@hunterrobertagency.com
