Your condominium is likely one of your most significant investments, so protecting that investment is critical. Whether the condo is your primary residence or a vacation home, you need insurance coverage to guard against damage from fire, theft, or other unforeseen causes. Our team at HBW Insurance Group, serving the Catonsville, MD area, will work with you to structure the coverage that best meets your needs.
Condo Insurance Considerations
No two condos are alike, and neither are their needs for insurance coverage. The value of your condo insurance will depend on the types of coverage you choose, the insured limits, and deductibles.
- Building Property – Your insured amount will depend on the condo’s value and whether your association’s coverage is All-In or Bare Wall. All-in means the association is responsible for the building structure and the fixtures attached to the interior walls, such as cabinets and lighting. Bare Walls means they cover only the building structure. You are responsible for insuring the interior fixtures.
- Personal Property – Coverage for your furniture, flooring, appliances, clothing, and other personal items, including jewelry, artwork, or collectibles.
- Personal Liability – Covers legal fees and medical bills if someone is injured while in your unit. Depending on your risk tolerance, consider increasing this above the policy minimums.
- Additional Living Expenses or Loss-of-Use – Pays your additional living expenses if you must stay elsewhere while repairs occur.
- Loss assessment coverage – Protects against charges you may face for shortfalls in the association’s coverage or new assessment.
Working with HBW Insurance Group
Each client has unique condo insurance needs. HBW Insurance Group, proudly serving the Catonsville, MD area, can help you obtain a policy to protect your home and family against unforeseen events. Call or stop by today to discuss your condo insurance options.