Condominium Owners Insurance
Help protect your condominium against fires, theft, and other covered causes of loss with condominium owners insurance. Plus, save money by combining homeowners and car insurance policies.
Condominium Owners Insurance
Help protect your condominium against fires, theft, and other covered causes of loss with condominium owners insurance. Plus, save money by combining homeowners and car insurance policies.
Why you need insurance for your condominium unit?
It's likely that your condo association does not insure either your unit or the personal property inside it. Their insurance generally focuses on the building structure and common areas.
What condominium owners insurance covers?
Weather-related damage
Lightning, wind or hail, freezing of pipe systems, weight of ice, snow, or sleet.
Non-weather-related damage
Fire, theft, vandalism, riots, explosion, smoke, aircraft, and vehicles.
Other causes
Sudden and accidental discharge of water from the plumbing system, rupture/overflow of heating or cooling systems, artificially generated electrical current
What is not covered?
Natural disasters and other causes
Damages as a result of floods, groundwater, earthquakes, mudslides, sinkholes, decay, pollution, nuclear hazard, birds, rodents, insects, or domestic animals.
Work-related
Business activities or professional services. Learn more about insurance policies for business owners.
Vehicles
Property, operation, use, or maintenance of aircraft, motor vehicles, and certain boats.
More Insurance Options
From coverage for uninsured or underinsured drivers to medical payments and liability coverage, discover all our available options
Property value
Know the value of your belongings
Adding up the value of your computers, electronic devices, jewelry, clothing, furniture, perhaps even something particularly valuable like an engagement ring, an art collection, or a musical instrument, can help you determine how much condominium owners insurance coverage you need.
Some parts of your unit, such as cabinets, countertops, carpet, doors, drywall, among others, may not be covered by your master policy. A State Farm agent can help you determine the value of your unit.
Understanding replacement costs
One of the most important aspects of condominium owners insurance is the cost of replacing personal property. We offer two coverage options.
Loss settlement on a limited replacement cost basis
Pays the cost to repair or replace your damaged property up to the liability limits.
Loss settlement on an actual cash value basis
Pays the cost to repair or replace the damaged property, minus depreciation prior to the loss, up to the liability limits.
Savings on condominium insurance
Combining the purchase of your condominium and car insurance policies is not the only way you can save money. From having security devices in your home to having no claims in your history, we have discount options to help make insurance more affordable.
Explore ways to save on condominium owners insurance
Rest easy, the policy provides you with protection against claims or liability lawsuits under coverage.
Policy coverage limits
Like all homeowners insurance policies, condominium owners insurance policies have maximum limits that the company will pay for losses related to specific types of property (these limits may vary among companies). What’s in a typical list of “special limits”?
- Money, promissory notes, coins
- Business property
- Boats, including trailers, furniture, and equipment
- Trailers (other than for boats)
- Firearms (applies only to theft)
- Silver and gold objects (applies only to theft)
- Computers and data processing equipment used for business
- Rugs, tapestries (theft only)”
Secure additional coverage for your insurance needs. Fill out the form to receive guidance tailored to your specific requirements
Secure additional coverage for your insurance needs. Fill out the form to receive guidance tailored to your specific requirements