Condo Insurance: The Basics of Coverage
If you live in a condo, your Condo Association probably provides some level of rudimentary insurance coverage. Typically, such coverage is limited to one of the following three types of policy:
Condo Insurance Liability Coverage
Condo association coverage also typically features a small level of personal liability coverage. For most occupants, however, this coverage won’t offer sufficient against every possible liability.
For example, if a guest suffers an injury or property damage while in your condo, association coverage may not be sufficient to cover the damages—especially if you get sued. Additionally, condo occupants themselves get no coverage at all for injury or property damage.
Know Your Condo Insurance Coverages
If you’re a condo owner, it’s crucial to know the types and amounts of courtesy coverages provided by your condo association. Understanding those built-in coverages will help you make informed choices regarding condo insurance and the coverages you need to gain maximum protection.
Condo Insurance Protects Your Investment
For most people, buying a condo represents one of the largest investments they’ll ever make. You wouldn’t dream of carrying insufficient coverage on your house, and sufficient condo coverage is just as important. Without it, you stand to lose almost everything in a disaster. Like solid home insurance, a comprehensive condo policy protects your assets, allowing you to more-easily recover and get back to a normal life when disaster strikes.
What Does Tatum Condo Insurance Cover?
With sufficient condo coverage, you can protect your condo from fires, wind and hailstorms, lightning strikes, theft, and other events not covered by association coverage.
What Are Condo Insurance Exclusions?
As with home insurance policies, condo insurance doesn’t cover specific types of events:
Discounted Condo Insurance with Multiple Tatum Policies
If you purchase condo insurance through a Tatum carrier, you may be eligible for discounts if you’re an existing Tatum policyholder. Whether you’re an existing Tatum customer or not, ask us about multi-policy discounts when you bundle condo insurance with other policies.
