What does condo insurance cover

If you are new to owning a condo, you may not realize the difference between condo insurance and home insurance. When you own a condo, you share common areas with your neighbor. You also share common exteriors with other condo owners. The condo association carries insurance to cover the exterior and common areas. This includes things like elevators,  hallways, and a pool. How deeply into your condo, their coverage goes depends on the condo association policy. It would be best if you read their policy before you go to get your condo coverage. At The Merhar Agency LLC in Willoughby, OH, we have been in business for 65 years, and we share our vast experience with our customers. 


Even though the condo association covers your condo’s exterior, you still have a property that needs to be covered. If the coverage is walls-in, it means that things like the kitchen cabinets, floors, bathroom fixtures, and lighting are all things that are your responsibility. 


Liability is coverage that everyone needs. When you have any assets, you are vulnerable to legal action taken against you. Suppose someone is injured while visiting your condo or by a member of your family, you may get sued. This can be expensive not only because of the judgment, but legal fees mount up quickly. 


You have a lot more personal possessions than you probably realize. Even just having to replace your electronics is a daunting prospect, let alone all your furniture and clothing. You have two options with content coverage, replacement cost, and actual value. 

Loss of use

When your condo gets damage, it may not be habitable. You will need a place to stay. Loss of use coverage will pay for a hotel until you can find a short term rental. 

Contact The Merhar Agency LLC in Willoughby, OH for a no-obligation condo insurance quote or any other insurance need you may have,