SHINING A LIGHT ON CONDO INSURANCE COVERAGE

By Kate Bowler
Shining A Light On Condo Insurance Blog Banner
We've tapped Liberty Mutual representatives to try to answer some of the most commonly asked questions about insurance policies. Condo insurance is a topic that often brings up some of those questions such as: do I need condo insurance on top of my condo association's policy? And what does condo insurance cover? Here are their answers:



Q: What is Condo Insurance and Do I Need It?
A: When you own a condo or a townhouse, you're usually a member of a housing association for the property where your home is located. That condo association or property management group usually covers things that are located on your property but outside of your individual unit like maintenance, landscaping, and common area improvements. The association also has insurance—what is usually called a master policy‐that typically covers the structures and property of the complex. As an individual condo unit owner, you are likely covered by your condo association's insurance for the exterior of your home. However, the interior of your unit, your personal possessions and your personal liability are not. That's why it's important to have condominium insurance, to take care of your property that is not covered by the master policy. Additionally, a condo insurance policy can also protect your financial assets with personal liability coverage‐for example, in the event that someone was injured in your home or you caused accidental damage to someone else's property.

To learn more about condo insurance coverage and benefits, visit our Condo Insurance page.


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