We offer the following condo insurance options:
- Dwelling – Coverage for your house itself
- Other Structures – Coverage for any detached structures
- Personal Property – Coverage for the contents in your house (sub-limits apply to certain types of personal property)
- Loan of Use – Coverage for additional living expenses while your home is being rebuilt
- Personal Liability – Coverage if you are found liable for damages to another person’s property or bodily injury
- Medical Payments – Initial coverage if someone gets injured on your property
- Valuable Items – Coverage for jewelry or fine arts beyond what is covered on the standard condo policy
- Water Backup – Coverage if there is a backup of a sewer or overflow of a sump pump
- Additional coverages such as earthquake, loss assessment, etc. are available
Why Carry Condo Insurance?
Your mortgage company requires you to. If you don’t have a mortgage, you might want to carry coverage in the event that your condominium is damaged or destroyed or if someone gets hurt on your property.
What Limits and Deductibles of Condominium Insurance Should I Carry?
Everyone’s individual situation is different and, therefore, insurance coverage recommendations will vary. While most Connecticut condominium associations’ master policies cover each individual unit, including betterments and improvements, some do not.
Additionally, the master policy does not provide coverage for your contents or protect you from a liability claim. With regards to the deductible: the higher the deductible, the lower the premium.
Contact Olde Liberty Insurance today for a comprehensive insurance review and a no-obligation, customized quote from some of the most reputable carriers in the state of Connecticut.