Condo Insurance
Condo owners need insurance to cover their personal property and any parts of their unit which aren’t covered by their condo association’s master insurance policy.
Generally, the condo association requires the unit owner to carry one of the following 3 types of coverage on the Real property comprising your unit (Coverage A):
- None – Because the Master Policy covers 100% of the Real property.
- Partial – Used when condo Bylaws require unit owner to purchase “wall in” coverage and Master policy takes care of the building shell, such as walls, floors & roof.
- All of the unit value – Unit owners buys 100% of Real property and Master policy provides no Real property coverage.
Notice: This is only a general description of available coverages and is not a statement of contract. All coverages are subject to policy provisions, applicable endorsements and deductibles. Legal consultation may be required.