Condominium Insurance in Boynton Beach and Stuart, Florida
Condo insurance can help provide financial protection from various incidents outside the condo owner’s control. While a condo association’s master policy may cover the building’s common areas and the building, condo owners need separate insurance to help provide liability coverage, personal possessions coverage and extra living expenses in case the owner must move out temporarily after a covered event.
Contact Wiglesworth-Rindom Insurance Agency today to learn more about your condo insurance options.
What Is HO-6 Condo Insurance?
HO-6 condo insurance, also called “walls in” coverage, is designed for condominium unit owners. It may help provide coverage for the individual unit, personal belongings and liability protection within the unit. A typical policy includes coverage for perils such as fire, theft and certain types of water damage.
What Does Condo Insurance Cover?
A condo insurance policy may cover the following:
- Personal property coverage may help cover movable goods, such as electronics, furniture and clothing damaged or destroyed by a covered peril.
- Building property coverage may help cover damage to the the interior of the condo unit (e.g., fixtures and walls) that is caused by covered losses.
- Personal liability coverage may help cover expenses such as medical bills and legal fees resulting from third-party injuries for which the owner is legally liable.
- Guest medical coverage may help cover the condo owner’s legal liability for medical bills if a third party is injured at the condo.
- Loss of use coverage may help cover extra living expenses if the condo owner must temporarily move out to allow for repairs resulting from a covered peril.
A standard condo insurance policy does not provide coverage for flood damage. If you live in an area where flooding is a concern, talk with your agent to learn more about getting a standalone flood insurance policy.
What Type of Insurance Policy Is Required on a Condo?
Although not mandated by law, a condominium or homeowners association can require condo insurance with specific limits and coverage. Lenders may also require condo owners to get condo insurance.
Contact Wiglesworth-Rindom Insurance Agency in Stuart, FL, to get a personalized condo insurance quote.