What coverage does condo insurance provide?

Owning a condo is the right option for many people. It requires condo insurance in the same way that home insurance is a good idea for homeowners. At Community Management Insurance Group in Greensboro, NC, our team takes the time to get to know our customers so that we can better provide the help that they need when they are looking to insure their condos. 

Condo Insurance Coverage Options

Property coverage

The property coverage that is provided for a condo is different from what a house needs. With a condo, the Condo Association has insurance that protects the outside of the building. This includes the roof and exterior walls and porches. It also includes common areas. You are responsible for the interior structure of your condo, and things are a permanent part of it, like bathrooms and built-in appliances. 

Content coverage

Your personal possessions are covered with content insurance. You can decide how you want to cover it, you can have replacement coverage or current value. This is something to discuss with your insurance agent. For things like jewelry and art, you may need additional coverage since these do have limits on coverage. 

Liability coverage

Liability coverage protects you from someone being injured at your condo or by a member of your family. It will pay medical bills, and it will also help pay legal costs and a judgment against you. 

Loss of use

If your condo is damaged by a covered hazard, you won’t have a place to stay. If you have a loss of use coverage, it will pay for you to go to a hotel, to get meals out, and even a longer-term rental, depending on how long your condo is uninhabitable. 

Reach Out To Us

Contact Community Management Insurance Group in Greensboro, NC for all your auto insurance needs. We are happy to help!