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.
We do the work for you. In a few steps, you’ll have the best rate and will be able to get immediate coverage.
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.
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.
Our success has been fueled by our impressive national network of real estate, mortgage, escrow, and closing professional affiliates.
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.
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.