Buying Insurance for a Condo

Condominium association has insurance but only covers the building, and does not include your possessions or accidents occurring in your condo. Buying insurance for a condo will protect you and your investment.

Determine what is covered by their insurance and what you are accountable for. Insure those areas to cover potential repairs or replacement. List the contents of your condo including personal belongings and appliances. Estimate total cost to replace the items. Purchase liability insurance. Condominium policies do not cover your condo or events that take place inside them. You may be held liable for injuries sustained in your condo or damage done to the building.