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Condo Insurance

Protect your personal belongings from loss or damage

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Condo Insurance with Elephant

Whether you own a beach front condo or a condo downtown, Elephant offers protection for your home and your possessions.

Why do I need condo insurance?

If you own a condominium, typically two insurance policies are required for complete coverage. Your homeowners association (HOA) or co-op board is usually responsible for the master policy. This master policy insures the building itself and common areas of your condo, including your roof and any walkways. Your personal property (what’s inside your condo) is covered by the second policy, your condo (ho6) insurance.

Typically, the condo owner is responsible for insuring anything inside the unit, including fixtures, walls, and flooring. Some master policies cover the standard unit, but any upgrades are the unit owner’s responsibility. Check with your HOA or co-op board to make sure you’re fully covered.

What does condo insurance cover?

It’s important to know which parts of your unit are covered by the master policy and which parts are your responsibility. Typically, the condo owner is responsible for insuring anything inside the unit, including fixtures, walls, and flooring. Some master policies cover the standard unit, but any upgrades are the unit owner’s responsibility. Check with your HOA or co-op board to make sure you’re fully covered.

Condo policies are typically made of four components: personal property coverage, loss assessment coverage, loss of use coverage, and personal liability coverage. Let’s take a look at what those mean.

Personal Property Coverage

If your personal belongings are damaged, this helps you with the cost of replacing them

Loss Assessment Coverage

If your condo building is damaged by something that isn’t covered by the master policy, the HOA may make an assessment and you may have to pay for a portion of the damage. This coverage can help pay your share.

Loss of Use Coverage

If your home is damaged, this pays for additional living expenses during repairs, such as temporary housing.

Personal Liability Coverage

This provides protection against potential lawsuits if someone is injured on your property.

 

How to purchase a condo (ho6) policy

At Elephant, we partner with Homesite to bring you homeowners insurance. Even though we don’t write your policy in-house, our relationship with Homesite means we know exactly what they’ll be able to offer you, how it will work with your auto insurance, and best of all, how much money you’ll be able to save by bundling them into one policy. To get started:

  • Call 844-937-5357 to get a quote. One of our insurance specialists will walk you through the process and will answer any questions you may have.
  • Or get a quote online!

 

Multi-policy Discounts

You’ll get the most value for your condo insurance policy when you combine multiple policies through Elephant, which saves you both money and time. Simplifying the process also results in a consolidated, streamlined billing process. Plus, you can build a plan that best meets your needs—all while optimizing your discounts. Quote today with auto, life and umbrella insurance and let us help protect you and your family.

Protecting your home and your belongings is easy with condo insurance.
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