Condo Insurance: Coverage Fundamentals
If you live in a condo in Pensacola, your condo association probably provides some level of rudimentary insurance coverage. Typically, such coverage is limited to one of the following three types of policy:
- Coverage for the complex’s primary building and common areas
- Coverage for each building and items within each unit considered to be the property of the condominium complex
- Coverage for each building, individual unit, and any fixtures or improvements to the unit made by the occupant
Condo Insurance Liability Coverage
Condo association coverage also typically features a small level of personal liability coverage. For most occupants, however, this coverage won’t offer sufficient protection against every possible liability.
For example, if a guest suffers an injury or property damage while in your condo, association coverage may not be sufficient to cover the damages—especially if you get sued. Additionally, condo occupants themselves get no coverage at all for injury or property damage. That’s why coverage is so important. Let us help you with your Pensacola condo insurance policy.
Know Your Condo Association Coverages
If you’re a condo owner, it’s crucial to know the types and amounts of courtesy coverages provided by your condo association. Understanding those built-in coverages will help you make informed choices regarding condo insurance and the coverages you need to gain maximum protection.
Condo Insurance Protects Your Assets
For most people, buying a condo represents one of the largest investments you will ever make. You wouldn’t dream of not carrying enough coverage on your house, why would condo coverage be any different? Without it, you stand to lose almost everything in a disaster. Like solid home insurance, a comprehensive condo policy protects your assets, allowing you to more-easily recover and get back to a normal life when disaster strikes. Don’t be caught off guard, get your Pensacola condo insurance today!
What Does Condo Insurance Cover?
With sufficient condo coverage, you can protect your condo from fires, wind, hailstorms, lightning strikes, theft, and other events not covered by association coverage. Let Kevin O'Neil Insurance, your Pensacola condo insurance expert get you the coverage you need.
What Are Condo Insurance Exclusions?
As with home insurance policies, condo insurance doesn’t cover specific peril types:
- Floods
- Earthquakes and mudslides
- Settling
- Natural deterioration and neglect
- Birds, rodents, insects, and domesticated animals
Multi-Policy Condo Insurance Discounts
If you purchase condo insurance through a Kevin O'Neil Insurance carrier, you may be eligible for discounts if you’re an existing Kevin O'Neil Insurance policyholder. Whether you’re an existing customer with our agency or not, ask about our multi-policy discounts when you bundle condo insurance with other policies.
