Usually, the condominium association buys insurance to cover the property (building and structures) and liability coverage for the general association. If you own a condominium, you may be responsible for covering the "walls in" of your unit. This can include but is not limited to the interior walls, flooring, lighting fixtures, and any improvements made to the unit from date of construction. It is best to consult the Association for the details on the By-Laws and advise your agent so they may make the necessary adjustments to your personal policy to avoid any "gaps" in coverage. The property portion of this policy is subject to a deductible per loss.
A Condominium Policy protects:
• Furniture
• Clothing
• Appliances
• Personal Belongings, no matter where they are used
• Personal Liability, that protects you against a claim or lawsuit if someone is injured or their property is damaged while in your condo
• Cost of Common Property Loss, assessed by the condo association on all unit owners
A Condo policy also provides additional coverage options that you may choose for added protection:
• Contents Replacement: Provides full replacement cost for personal belongings with no deduction for depreciation.
• Personal Injury: Protects you against libel and slander.
• Identity Theft Protection: Provides assistance from a consumer fraud specialist and covers expenses related to restoring your good name and financial reputation.
• Valuable Items Plus Endorsement: Provides a blanket of coverage that is broader than what a basic Homeowners policy provides. It is the right coverage for people who own valuable possessions such as jewelry, artwork cameras and computers.
• Personal Articles Floater: Provides even more comprehensive coverage than the Valuables Items Plus endorsement. It is the right coverage for people who wish to protect items that have been carefully selected and whose values exceed the limits of either the Condominium policy or the Valuable Items Plus endorsement.
• Umbrella Policy: Offers an additional $1 million to $5 million of liability protection.
• Flood Coverage: Flood damage is typically not covered under a homeowners policy. This affordable coverage covers damage to your property and provides cleanup reimbursement.
• Pleasure Boat Insurance: for small watercrafts.
Condominium Homeowners Insurance Discounts
Daly Insurance offers a variety of ways to save you money on your condo insurance. We offer discounts for:
• Monitored fire and burglar alarms
• Smoke Detectors
• Local ultrasonic burglar alarms
• Fire extinguishers
• Deadbolt locks on all exterior entryways
• Sprinkler systems
• Condo insurance combined with auto insurance or other insurance policies
Protect yourself, your family, and your property.
Call Daly Insurance today 912-352-1400 for a Condo Insurance quote or click here.
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