South Carolina Condominium Insurance Coverage (HO6)

South Carolina is full of rich cultural cities from Columbia and Charleston to scenic Goose Creek. Owning a condominium in these locations lets you settle down without having the maintenance a single-family home might require. Most people choose condominiums not only for the easy home maintenance, but also for the social atmosphere, thus making condominium living a popular choice for residents throughout South Carolina. As a condominium owner, it is important to understand what is covered by your insurance policy and what the condominium association maintains. Keep in mind it is important to make sure that your insurance coverage is accurate. Schedule time with a South Carolina insurance agent from Heritage to make sure you are up-to-date with local ordinances and laws to ensure your property is protected during a natural disaster.

Condominium insurance coverage purchased by the condominium association typically only covers common areas. The condominium association’s policy will assess property damage or personal liability claims in common areas only, while your insurance policy would cover accidents or an injury in your specific unit. A Heritage agent would be happy to help you find out the amount of condominium insurance for your needs.

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 Insurance

Personal liability insurance provides coverage toward property damage and bodily injury to others when it takes place in your dwelling. You could be liable for damages and medical payments if a guest in your unit is injured from a fall or other mishap, even if it is an accident. You could also be responsible for accidents that take place away from your property when they are caused by you or family members who live with you. Personal liability covers not only your legal defense and damages if you are sued up to the limit of responsibility, but also provide for any medical payments if necessary.

South Carolina 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

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

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. Remember, it is crucial that you are covered for any damage to any portion of your unit, even if it is not part of your personal belongings. We also offer coverage options for dog liability, identity theft, and personal injury.

Always Contact your Heritage Insurance Agent

Contact your SC Heritage Insurance agent today to determine the levels of coverage that are right for you and to learn more about our condominium insurance program. Your South Carolina agent will provide you with 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 will be there for you 24 hours a day, seven 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.