Condo Insurance Riders: What Are They and Do You Need Them

Willoughby, OH residents, are you aware of the nuances of condo insurance and the additional protections available through insurance riders? At The Merhar Agency LLC, we’re committed to helping condo owners fully understand their insurance options. While standard condo insurance policies provide essential coverage, riders offer additional layers of protection tailored to your specific needs.

  1. Water Backup Coverage: Condo insurance typically covers water damage from burst pipes or plumbing issues within your unit. However, water backup coverage extends this protection to include damage caused by sewer or drain backups. With heavy rainfall and seasonal changes in Willoughby, OH, water backup coverage can be a valuable safeguard against unexpected flooding and water damage.

  2. Scheduled Personal Property Coverage: While standard condo insurance policies cover personal belongings, they often limit high-value items such as jewelry, artwork, and electronics. Scheduled personal property coverage allows you to specifically list and insure these valuable possessions for their full appraised value, ensuring that you’re adequately protected in the event of loss or damage.

  3. Loss Assessment Coverage: Unit owners may be responsible for shared expenses associated with property damage or liability claims against the condo association in condominium communities. Loss assessment coverage helps protect you from unexpected financial burdens by covering your share of special assessments levied by the association due to covered perils.

At The Merhar Agency LLC, we understand the unique insurance needs of condo owners in Willoughby, OH, and beyond. Ready to explore your condo insurance options and discover the benefits of insurance riders? Contact us today for personalized guidance and a comprehensive insurance solution designed to safeguard your condo and belongings. Protect your investment and enjoy greater peace of mind with reliable coverage you can trust.

Condo insurance terms you need to know

Condo owners in the Willoughby, OH metroplex work hard to make sure their space feels like home. At The Merhar Agency LLC, it’s our pleasure to help insure our clients with the right policy. Understandably, there are terms you should become familiar with to understand how your property is protected. 

Condo Insurance Terms

Condo insurance is similar to home insurance because it covers your personal property, liability, and certain types of structural damage to your condo. It differs from home insurance in that it does not cover the structure of the building itself. These are typically covered by the condo association’s master policy. When you purchase a condo policy, you are purchasing coverage for damages not already provided by the association’s master policy.

  • Dwelling coverage- Covers the cost of replacing structures like flooring if it’s damaged or destroyed due to an expected event.
  • Temporary living expenses or loss of use- Helps pay for somewhere else to live should your condo become unlivable after an event such as a fire or natural disaster.
  • Liability coverage- This is another term in condo insurance policies that protects you from being sued for accidental bodily injury or property damage caused by you, your family members, or pets in or around the condo.
  • Personal property- If you have items inside your condo, like electronics or furniture, that were damaged, this part of the policy can help cover the replacement costs.

Find Out More About Condo Insurance

The Merhar Agency LLC in Willoughby, OH is always ready to help other clients with insuring what matters most to them. Do you need to get an estimate on condo insurance? Please feel free to get in touch with us to get a free quote or if you have any questions.

When Should You Buy Insurance for Your Condo?

There are many things to consider when purchasing insurance for your condo. One of the most important decisions you will make is when to buy coverage.

Do you wait until something happens and you need to file a claim? Or do you purchase a policy before something terrible happens? Knowing when to buy insurance for your condo is essential for protecting your investment and peace of mind. Consult with The Merhar Agency LLC in Willoughby, OH for expert insurance advice.

Should You Buy Condo Insurance Before Buying a Condo?

The best time to buy insurance for your condo is before you purchase the property. If you wait to buy insurance until after you have already closed on the condo, you could be leaving yourself vulnerable to a number of risks. These include:

  • Loss or damage to your personal belongings: If your condo is burglarized or damaged in a fire, you will not be covered if you do not have insurance. Additionally, any damage to the condo itself will not be your responsibility to repair.
  • Liability risks: If someone is injured in your condo, you could be held liable. If you have insurance, your policy will cover the cost of damages and legal fees. However, if you do not have insurance, you will be responsible for paying these costs out of pocket.
  • Mortgage requirements: Most lenders require that you have insurance in place before they provide you with a loan. The insurance protects the lender’s investment in your condo if it is damaged or destroyed.

Purchasing insurance for your condo gives you peace of mind knowing that you are protected in the event of a disaster. It is also required by most lenders, so it is essential to do it as soon as possible.

Purchase Your Condo Insurance Today

If you’re looking for comprehensive protection for your condo, look no further than The Merhar Agency LLC in Willoughby, OH. We offer a variety of coverage options to meet your needs and budget. Contact us today, and our team of insurance experts will help you find the perfect policy for your condo. Get a quote today and sleep soundly, knowing your investment is protected.

We look forward to serving you.

Why you need condo insurance

Owning a condo is something many people prefer. It makes owning a home possible in some cases and in others; it is the lack of exterior maintenance that is the big attraction. No matter what your reason for choosing condo ownership is, you still need to protect your investment. Condo insurance is designed to protect condos and only includes the kinds of coverage you need. The Merhar Agency LLC in Willoughby, OH we have been providing friendly and knowledgeable customer service to local residents for more than 65 years. 

To protect your assets

You need condo insurance to protect your assets. Not only the money you have invested in your condo but your other assets. Liability insurance is included in condo insurance, and it will help to protect you if you are involved in a legal action where someone sues you. It covers you, the members of the family, and even your furry friends as long as they are not excluded. It can also help with the legal costs of defending yourself. 

Protect your possessions

Condo insurance protects the contents of your condo. This includes things like your furniture, appliances, clothes, electronics, and jewelry. Some categories do have limits so make sure you are aware of them. You can increase the limit if necessary with a rider. Your possessions are also covered when they are away from home with you. 

Loss of use

When a covered hazard damages your condo you may have to find another place to stay. In the immediate aftermath it will reimburse you for hotel expenses and if needed help you to pay for a short-term rental. This coverage is not in every policy. Make sure it is included with yours. 

Contact The Merhar Agency LLC in Willoughby, OH when you are in the market for condo insurance. 

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,