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What Does Condo Insurance Cover?

GRIT Insurance offers customizable coverage to protect you and your home. Our condo insurance policies can include:

  • Interior Coverage: Protects improvements like flooring, cabinetry, and built-ins that are not covered by the association’s policy.
  • Personal Property: Covers your belongings, such as furniture, electronics, clothing, and appliances, against damage or theft.
  • Liability Protection provides financial coverage if someone is injured in your condo or if you accidentally damage a neighbor’s property.
  • Loss of Use: Helps cover living expenses if your condo becomes uninhabitable due to a covered event.
  • Loss Assessment: Covers your share of expenses if the condo association charges unit owners for a major loss or damage to common areas.

Condo Insurance vs. HOA Master Policies

It’s essential to understand the difference between your condo association’s master policy and your individual condo insurance.

  • Master Policy: Typically covers the building’s exterior, shared spaces, and liability for common areas.
  • Your Condo Insurance: Protects your personal property, interior upgrades, liability, and additional living expenses.

We’ll help you review your HOA’s master policy to identify gaps in coverage and ensure your condo insurance effectively fills those gaps.

Why Choose GRIT Insurance for Your Condo Policy?

As your local independent insurance agency, GRIT Insurance is dedicated to finding the right policy for your specific situation. Here’s how we stand out:

  • Access to Multiple Carriers: We work with a wide range of trusted insurance providers to find the best coverage at the most competitive rates.
  • Personalized Service: Our experienced agents take the time to understand your unique needs and tailor a policy just for you.
  • Ongoing Support: Whether you’re getting a quote, updating your coverage, or filing a claim, we’re with you every step of the way.

 

Frequently Asked Questions About Condo Insurance

Do I need condo insurance if my HOA has a master policy?
Yes. The master policy usually doesn’t cover your personal property, liability, or interior features like flooring and cabinetry. Condo insurance bridges these gaps.

What factors affect my condo insurance premium?
Premiums depend on factors such as the value of your belongings, location, coverage limits, and the specifics of your condo association’s master policy.

Can condo insurance cover short-term rentals?
If you rent out your condo through platforms like Airbnb, additional coverage may be needed. Our agents can help you secure the appropriate policy.

What happens if there’s a special assessment from my HOA?
Loss assessment coverage can help pay for your share of unexpected expenses, such as damage to shared spaces or liability claims against the HOA.