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Condo insurance is coverage that helps protect against losses and repair costs for a condominium unit. Condo insurance often provides protection for theft, vandalism, fire damage, water damage, and more.

Condo insurance can still come in handy, even if your condominium association has their own coverage. Their insurance might cover the condominium building, commonly owned property, and liability insurance for the association.

Unfortunately, there are many cases where that insurance policy won’t cover you or your things—like a break-in, water damage to your living room walls, or someone injuring themselves slipping on your wet kitchen floor. That’s why you need condominium insurance designed specifically for condo or co-op owners.

Condominium policies help protect your personal property and the interior of your unit. You will also have liability protection for bodily injury or property damage to others.

What does a condo insurance policy cover?
The articles of the condominium association and state law determine exactly what’s covered under the association’s master insurance policy.

In most cases the association’s coverage stops after the exterior walls, meaning that you are responsible for the interior walls and possibly for fixtures, as well as your personal property and liability. This is where your own personal condo policy would come in. Most policies will include coverage for losses arising from:

Fire or Lightning
Windstorm
Smoke
Vandalism or Malicious Mischief
Theft
Accidental Discharge of Water