Condo
Condo
What is Condo Insurance?
Most Condo Unit Owners cannot afford to rebuild the interior of their unit following a disaster. Condo Insurance is designed to protect the interior of your unit, your personal belongings and loss of use should your condo or townhome unit not be inhabitable due to a covered loss.
HDA Insurance is a certified and licensed National provider of residential Condo Unit Owners Insurance and other insurance products online direct to the consumer public. Our success has been fueled by our impressive national network of real estate, mortgage and escrow professional affiliates.
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We do the work for you. In a few steps, you’ll have the best rate and will be able to get immediate coverage.
"When buying my Condo, I was told I needed Hazard Insurance. I had never heard of Hazard Insurance before but all it took was one call; HDA helped me get Condo Unit Owners Insurance and it was all over within a few minutes. Now, I know I'm covered, HDA billed my mortgage company and we're all set. Thanks for making it easy!"
Sharita Miles-Johnson
Condo Insurance
Do I need Condo Unit Owners Insurance? The Condo Owners Association has a Master Policy, why should each unit owner also buy insurance?
Although your condo association carries insurance, most association master policies only cover up to the interior walls and not beyond. For this reason, condo unit owners policies are often called ‘Walls-In Insurance’.
Condo Insurance protects the interior of the unit, your personal property and personal liability.
Coverage Details
How much coverage do I need? In order to calculate how much insurance to buy, you must add up the cost of everything you own – bed, furniture, clothing, electronics, and dishes.
The average renter in a one- bedroom apartment has about $20,000 worth of personal items; the average renter in a small three-bedroom house has about $50,000 worth of personal items.
- Dwelling - Coverage that protects the structure of the home
- Other Structures - Coverage for sheds, detached garages and other structures not attached to the main dwelling
- Personal Property - Coverage for personal belongings (clothing, furniture, appliances, electronics, etc.)
- Loss of Use - Coverage for when an insured has to move out of the home while repairs are made as a result of damage caused by a covered loss
Types of Hazard Insurance
- Condo Insurance / Co-Op Insurance – The Condo Association or Homeowners Association will carry a master policy for the exterior of your unit; however, the interior, personal belongings and personal liability are the individual unit owner’s responsibility. These policies are sometimes referred to as Form HO-6 and are used for Condominium Units, Co-Op Units and Townhome Units.
- Landlord Insurance – Whether you own one property or multiple rental properties, a Landlord Insurance Policy is the correct form to provide coverage for a tenant occupied home.
- Homeowners Insurance – Most likely one of your largest investments, your owner occupied home should be protected by a Homeowners Insurance policy, commonly known as Home Insurance.
- Flood Insurance – Whether your home is located in a Special Flood Hazard Area (defined by FEMA) or not, Flood Insurance is available to protect your home from rising exterior water.
Our success has been fueled by our impressive national network of real estate, mortgage, escrow, and closing professional affiliates.
Policy Service
Customer Service is available via direct insurance company portals and tele-servicing centers for our clients and their mortgage companies.
Claims Reporting Service is available 24/7 directly online, via mobile apps and personalized telephone service.
More details available on our Policy Service tab.
- Verification of Insurance by Mortgage Companies
- Billing and Payment Services
- 24/7 Claims Reporting Hotline
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Results You Can Trust
HDA Insurance Brokerage is a certified and licensed National provider of home insurance and other insurance products online direct to the consumer public and via our institutional arrangement with mortgage providers. Since 1986, this Personal & Commercial Lines agency evolved into a national property insurance provider with a focused expertise in Homeowners Insurance, Landlord Insurance, Renters Insurance, Earthquake Insurance & Commercial Lessor’s Risk Insurance.
Success rate
1
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1
Claims Reporting
1
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Insurance Policies
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FAQ
Here are the most common questions
Chances are, you'll find the answer in our FAQs. We have listed some of the more common questions asked by Condo Unit Owners and Townhome Unit Owners.
We’re here to answer any and all your questions. For more specific questions, you may complete our Contact Us form and one of our representatives will be happy to personally research the topic and respond at your convenience.
Condo Unit Owners Insurance can protect you and your unit interior from the unexpected. Condo Insurance will cover your personal belongings from fire, theft, water damage and also in case someone gets injured at your home.
Other than the fact that your mortgage lender requires Condo Insurance, we couldn’t imagine a Condo Unit Owner not concerned about the Interior of the Condo, Personal Belongings and/or Personal Liability exposure in the event of an incident. Get your FREE Condo Insurance Quote now!
The amount which is deducted from the pay out for each claim. A higher deductible will result in a lower premium and a lower deductible will result in a higher premium when shopping for insurance.
Most commonly, Condo Insurance is not designed to cover business exposure. It may allow for a limited amount of business related equipment but definitely not inventory and/or business liability. For Small Business Insurance, a Business Owner’s Package policy (also known as a BOP) is recommended.
Theft of personal contents is usually covered under personal property coverage on Condo policies. Personal Property coverage offers protection for electronics, sporting equipment, clothing and furniture up to the policy limit. These policies also cover a percentage of your covered limit while away from home; an example maybe if you were to have a theft of personal items from your vehicle or a hotel room. It is most important to make sure that you request Replacement Cost Coverage basis for your Personal Property; if not, depreciation will be calculated during the adjustment of claim.
Personal Liability coverage is a very important part of the Condo Insurance policy.
If someone is injured on your property and brings suit against you, you may have coverage for bodily injury, property damage, medical payments and legal expenses if you or a family member is found negligent. This insurance will not cover damages to a resident member of the household.