Owning a condo. Protecting what’s yours.
Being Condo Careful
Owning property is a big dream for many of us. Buying a condo is a real financial commitment and we don’t want you to mistake Condo Association Insurance for Condo Owner’s insurance.
Condo Association Insurance and Condo Owners Insurance: Know the difference.
Condo Association Insurance: What do your association fees cover? Condo Association Insurance may include damages to the building around your condo, common areas and the like. But if it comes down to theft, interior water damage or injury related claims, you’re probably on your own without Condo Owners Insurance.
Condo Owners Insurance: The parts of your condo not covered by Condo Association Insurance will be covered with Condo Owners Insurance. Any customizations or improvements to your unit, personal property inside the unit, and the like are what you’ll be looking to protect with your policy. This policy is commonly referred to as "Walls-In" policy, since it covers almost everything inside your condo. In the event losses to common areas are assessed to you by your Condo Association, your Condo Owners may cover that, too.
How does having Condo Owners Insurance help me?
Having Condo Owners Insurance protects you and certain types of property and belongings against a variety of possible hazards.
Typical coverages offered in a Condo Owners policy:
Additional Personal Contents Coverages - Valuables (Jewelry, Fine Art)
Condo Interior Fixtures and Improvements (Gourmet Kitchen, Flooring and Plumbing)
Types of hazards a Condo Owner policy covers:
Fire or Lightning
Vandalism or Malicious Mischief
How can AIS help?
At AIS, we seek out the policy that best matches your price and protection needs. We have access to multiple high quality insurance companies, which makes it easy to compare Condo Owners insurance quotes. We can save you time and money -- all while teaching you everything you need to know about your coverage.
Condo Owners vs. Condo Association Insurance
When you move into a condo, you may think that there’s no need to shop for condo owners insurance. After all, you’re paying association fees, part of which goes toward a condo association insurance policy. However, these two types….