A condo association insurance policy is not the same as a condo owner’s insurance policy. The latter aims to protect the inside of your unit, while the association’s policy serves to protect the outside of your unit and any common areas. However, in some instances, a condo association insurance policy does cover the inside of your unit. Here at Gallina and Sons serving the Pittsburgh, PA area, we want to help protect your condo. Keep reading to learn more about condo association insurance.
The liability protection part of a condo association insurance policy can be of the utmost value if someone is injured or falls in the common area part maintained by the condo association. The policy may help cover the medical expenses and legal fees of the injured person. Without coverage, the condo association may have to pay out of pocket to cover these costs.
The property coverage part of a condo association insurance policy helps protect the common areas you share with other residents in the event of a disaster, such as a tornado or if someone accidentally crashes their vehicle into a common area. The exact types of covered perils depend on the policy.
In some instances, a condo association insurance policy does cover elements inside of your condo, like the floors, ceilings, and walls. If this is how your condo association’s insurance policy works, then you will need to buy a condo insurance policy that covers all other elements in your condo, like the plumbing, electrical wiring, and kitchen cabinets. However, some condo association insurance policies go as far as protecting the original appliances and fixtures installed in a condo.
The best way to determine what your condo association’s insurance policy covers is to speak with a licensed insurance agent at Gallina and Sons serving the Pittsburgh, PA area. Give us a call today.