Condo Insurance (HO6)

Many condo owners appreciate skipping the maintenance required with homeownership, and truly enjoy the social atmosphere of condominium living. This makes it a very popular choice for residents both young and old throughout the nation. It is important for property owners to understand what is covered by the master insurance policy maintained by your condominium association, as well as knowing what type of policy you will need to obtain to insure your personal property correctly.

Condominium association policies typically include common areas only. More specifically, this includes property damage or personal liability claims caused by accidents in areas used by all residents. Common areas in most communities include swimming pools, community centers, elevators, hallways, landscaping, lobbies, and gyms. Heritage Property and Casualty’s HO6 policy provides coverage for a condominium unit and its contents when it is occupied by the owner or a tenant.

Items that are covered by the condominium association will be outlined in their master policy. A thorough review of the master policy will provide you with the information you need to obtain the proper amount of condominium insurance for your unit, and will help your Heritage agent to know exactly what you need.


Personal Liability Coverage and Medical Payments to Others

Condo Insurance – Medical Personal Liability Coverage Personal liability coverage provides allowances for property damage and bodily injury to others. You may be held accountable for damages and medical payments if a guest in your unit is injured from a fall or other mishap. When these accidents occur on your property, you are legally responsible, even if you are not present. You may also be held liable for accidents occurring away from your property when they are caused by you or family members who live with you. Personal liability covers both your legal defense and damages if you are sued up to the limit of responsibility, as well as any necessary medical payments.

Loss Assessment Insurance Coverage

Condo Insurance – Loss Assessment Coverage In the event of a major disaster, your condominium may not be your only concern. Condominium association master policies also have limits, just like your personal insurance policy. If the condominium common areas, roof, or structure are damaged beyond the limits of the condominium association master policy, you and your nearby condominium dwellers might be asked to make up the difference. When deciding how much loss assessment coverage to obtain, examine the coverage limits on the condominium association’s master policy and look for special deductibles describing certain hazards.

Personal Property and Valuables

Condo Insurance – Personal Property and Valuables Personal property coverage allows for the Actual Cash Value payment for clothing, household furnishings, and other personal property, up to specified limits, in the event of a covered disaster such as fire or a tornado. When discussing your personal property coverage with your Heritage agent, be very clear on the value of items in your home. It’s advised to take pictures and document your belongings, in the case of a total loss. We also have additional coverage options available, including increased limits on jewelry, musical instruments, and fine art, as well as a replacement cost option on your personal property.

Permanently Attached Building Items Inside the Condominium Unit

Condo Insurance – Permanently Attached Building Items Inside the Condo Unit Your Heritage Condominium Insurance policy (H06) provides coverage for structures permanently attached to your condominium, even if they are on the inside of your unit. This includes hardwood floors or valuable wall finishes that the condominium association’s master policy might not cover. Additionally, Heritage Property and Casualty offers coverage options for dog liability, identity theft, and personal injury. Be sure to have a discussion with your insurance agent to determine the levels of coverage that are right for you and to learn more about our condominium insurance program.


Always Contact your Heritage Insurance Agent

Contact us right away to get the information you need to secure a policy that’s right for you and your family. If you should need to report a claim, we’ll be there for you 24 hours a day, 7 days a week to process your claim quickly and efficiently.

This information is provided to you as an overview of our products and services. Consult your insurance agent to understand all of the provisions, limitations, and exclusions that are part of a standard condominium insurance policy.

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