Condo insurance is a policy that is purchased by the owner of a condo unit. It generally helps pay to repair your unit and your belongings if they are stolen or damaged by certain perils, such as fire or vandalism.
Condo insurance typically includes a few standard coverages to help protect you, your condo unit and your belongings.
Here's a Look at How These Coverages Work:
Personal Liability Coverage
If someone is accidentally injured while visiting your condo and you are at fault, this coverage may help you pay for related legal expenses or your guest's resulting medical bills.
Guest Medical Coverage
If a guest is injured at your home, guest medical coverage may help pay for related medical expenses even if you are not at fault.
Building Property Protection
This type of coverage typically helps pay for repairs to the walls of your condo unit and its interior, which could include items such as built-in bookcases and fixtures, if damage is caused by a covered peril.