When you rent, lease, or own a condo, it is essential to protect your belongings. You should invest in protecting the unit and your personal belongings. This can be achieved by getting condo insurance.

The condo associations policy may only provide limited coverage for the structure (Based on policy terms/conditions and association by-laws). If coverage is provided it may be limited to the grey wall sheetrock on the interior of your unit and provided limited coverage for condo alterations, additions and other building responsibilities listed in the association agreement.

So, before you get hit with an uncovered loss, it’s best to invest in a condominium insurance policy as early as possible. Here’s how it could be beneficial for you:

Replacement cost coverage for other structures on your property
Replacement cost coverage on your personal belongings, covered anywhere in the world
Additional living expense coverage if your condo is damaged by a covered loss
$300,000 in personal liability coverage with limits available up to $500,000.
$5,000 in medical payments to others coverage

Other optional property coverages are available such as sewer backup & sump pump overflow coverage, earthquake coverage and refrigerated property coverage. Optional liability coverages such as farmers personal liability coverage, home day care coverage and recreational vehicle coverage could also be included.

After an accident, additional coverages like debris removal, fungi remediation and even fire department service charges may also be included.

Talk to Farmers Union Insurance Today
If you’re planning to buy a condo unit, make sure to get condo insurance as well. Insurance terms vary by state and coverage is designed around your association by-laws. At Farmers Union Insurance, we have reliable agents who can help you better understand everything you need to know about condo insurance. Reach out to us today to get started.