Condominium Insurance
Condominium insurance to meet your unique needs.
Why condominium insurance?
As the owner of a condominium unit, your insurance needs are different from other homeowners. A master policy purchased by your condo association typically covers your unit’s building, the common areas and the unit owners’ collective liability. But that policy won’t cover your personal belongings or your personal liability in the event of a lawsuit.
HUB can help you determine what coverage your association’s Master Policy provides and what you need to provide separately for your own protection. What parts of the building structure are your responsibility? Are you covered for damage by wind or flood? Are your contents covered at replacement cost? Where is liability your responsibility and where is it the association’s responsibility? Let our team help you secure the right protection against the risks you face as a unit owner.
Coverage that suits your needs.
Don’t let your property improvements turn into a liability. Our expert condo insurance advisors can help you get the right coverage and avoid expensive surprises when you experience a loss. It’s also vitally important to keep your condo insurance policies up to date. When you acquire new possessions or your personal circumstances change, make sure to update your coverage.
Dwelling/Additions and Alterations
- At a minimum, this limit should be equal to the deductible on your association’s master policy. The limit should be increased if you are required by your association to insure unit fixtures, partitions or improvements/betterments.
Personal Property
- This limit covers the contents of your unit: furniture, clothing, household appliances and all your other personal belongings. The amount of this coverage is up to you – our agents can help you determine the right amount of insurance for your needs.
Personal Liability
- Liability insurance is about financial protection – for you and your family. This limit provides coverage for bodily injury and property damage sustained by others for which you or your family members are legally responsible.
Medical Payments
- The policy will pay up to the limit shown on the declarations page per person for medical bills – regardless of fault – when an accident involves bodily injury to others.
Condo Loss of Use
- If your unit is damaged due to a covered cause of loss, the policy pays for necessary living expenses you incur while your home is being repaired – up to the limit shown on your declarations.
Loss Assessment Coverage
- Provides up to $1,000 of protection against financial loss if damage to commonly owned property exceeds the coverage in the Master Policy. Higher limits can be purchased and it is important to make sure your policy doesn’t contain language limiting coverage for master policy deductibles.
HO6 Limit Recommendations
| Coverage A – Dwelling: | Varies |
| Coverage C – Contents: | $50,000 |
| Additional Loss Assessment: | $50,000 |
| Personal Liability: | $500,000 |
| Medical Payments: | $5,000 |
| Medical Payments: | $500 |
- Your coverage A limit should be an amount high enough to cover the master policy deductibles + any building items specified by your association’s governing documents and should include Special coverage (HO 17 32 or its equivalent).
- The $50,000 Coverage C limit is our recommendation for minimum coverage: you may need higher limits depending on the value of your belongings. Additionally, valuable personal property items (i.e. jewelry and watches, fine arts, collectibles, musical instruments, etc.) should be evaluated for blanket or scheduled coverage.
- The Additional Loss Assessment endorsement on your policy should be evaluated to ensure it does not contain language limiting coverage for master policy deductibles.
- The $500,000 Personal Liability limit is our recommendation for minimum coverage: you should also consider an Umbrella policy to further protect your assets.
- Higher Deductible amounts are available.
- Discounts are available:
- Safety Device Credit – for deadbolts, fire/CO detectors and fire extinguishers
- Alarm Credit – for monitored security systems (ADT, XFINITY Home, etc.)
- Account Credit – if the same company writes your home and auto coverage
Our team will be happy to discuss all your insurance coverages – HUB provides options for Home, Auto, Boat and Recreation Vehicle policies.
Why condominium insurance?
As the owner of a condominium unit, your insurance needs are different from other homeowners. A master policy purchased by your condo association typically covers your unit’s building, the common areas and the unit owners’ collective liability. But that policy won’t cover your personal belongings or your personal liability in the event of a lawsuit.
HUB can help you determine what coverage your association’s Master Policy provides and what you need to provide separately for your own protection. What parts of the building structure are your responsibility? Are you covered for damage by wind or flood? Are your contents covered at replacement cost? Where is liability your responsibility and where is it the association’s responsibility? Let our team help you secure the right protection against the risks you face as a unit owner.
Coverage that suits your needs.
Don’t let your property improvements turn into a liability. Our expert condo insurance advisors can help you get the right coverage and avoid expensive surprises when you experience a loss. It’s also vitally important to keep your condo insurance policies up to date. When you acquire new possessions or your personal circumstances change, make sure to update your coverage.
Dwelling/Additions and Alterations
- At a minimum, this limit should be equal to the deductible on your association’s master policy. The limit should be increased if you are required by your association to insure unit fixtures, partitions or improvements/betterments.
Personal Property
- This limit covers the contents of your unit: furniture, clothing, household appliances and all your other personal belongings. The amount of this coverage is up to you – our agents can help you determine the right amount of insurance for your needs.
Personal Liability
- Liability insurance is about financial protection – for you and your family. This limit provides coverage for bodily injury and property damage sustained by others for which you or your family members are legally responsible.
Medical Payments
- The policy will pay up to the limit shown on the declarations page per person for medical bills – regardless of fault – when an accident involves bodily injury to others.
Condo Loss of Use
- If your unit is damaged due to a covered cause of loss, the policy pays for necessary living expenses you incur while your home is being repaired – up to the limit shown on your declarations.
Loss Assessment Coverage
- Provides up to $1,000 of protection against financial loss if damage to commonly owned property exceeds the coverage in the Master Policy. Higher limits can be purchased and it is important to make sure your policy doesn’t contain language limiting coverage for master policy deductibles.
HO6 Limit Recommendations
| Coverage A – Dwelling: | Varies |
| Coverage C – Contents: | $50,000 |
| Additional Loss Assessment: | $50,000 |
| Personal Liability: | $500,000 |
| Medical Payments: | $5,000 |
| Medical Payments: | $500 |
- Your coverage A limit should be an amount high enough to cover the master policy deductibles + any building items specified by your association’s governing documents and should include Special coverage (HO 17 32 or its equivalent).
- The $50,000 Coverage C limit is our recommendation for minimum coverage: you may need higher limits depending on the value of your belongings. Additionally, valuable personal property items (i.e. jewelry and watches, fine arts, collectibles, musical instruments, etc.) should be evaluated for blanket or scheduled coverage.
- The Additional Loss Assessment endorsement on your policy should be evaluated to ensure it does not contain language limiting coverage for master policy deductibles.
- The $500,000 Personal Liability limit is our recommendation for minimum coverage: you should also consider an Umbrella policy to further protect your assets.
- Higher Deductible amounts are available.
- Discounts are available:
- Safety Device Credit – for deadbolts, fire/CO detectors and fire extinguishers
- Alarm Credit – for monitored security systems (ADT, XFINITY Home, etc.)
- Account Credit – if the same company writes your home and auto coverage
Our team will be happy to discuss all your insurance coverages – HUB provides options for Home, Auto, Boat and Recreation Vehicle policies.