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Condo or Condon’t — Condo Insurance

You’ve taken the plunge and opted for condo life. Now that the papers are signed, it seems like everything is taken care of for you—building maintenance, roof repairs, landscaping, insurance, etc.It’s time to relax because everything is covered, right?

Not quite.The insurance policy provided by the condo association covers the building structure and common areas, but what about potential structural damage to your unit and covering your belongings? Without a personal condo insurance policy, you could be left high and dry if your unit floods, is damaged in a fire, etc.

Most condos need two insurance policies.

Master Policy: Generally provided by your condo association, this policy covers the physical structure of the building, including basement, roof, walls, elevators, lobbies, etc. Coverage usually includes both physical damage and liability. Get a copy of the policy so you know what’s covered.

Personal Condo Policy: This will cover additional structural damage to your unit, including cabinets, appliances, personal belongings, and more. This also covers living expenses if you fall victim to a fire, theft, or other covered disaster. Many insurance carriers offer enhancements that include personal property protection in your condo insurance policy. Full Value Contents protection will often pay the full replacement cost of your belongings, not just what they are worth today.

Other coverage to consider:

Umbrella Policy: If someone were to trip and fall inside or near your condo, they could sue both you and the condo association. Umbrella provides additional layers of liability protection and can protect against lawsuits that target both your current and future earnings.

Flood or Earthquake: Read the fine print on your policy.They often won’t cover damage due to these disasters. Additional coverage may be required if you live in a prone area.

Condo Insurance Quotes


There are plenty of options to consider when it comes to condominium insurance. It is important to go over these with an agent and ask questions before making a final decision.

If you live in Beaverton, Portland, or throughout Oregon or Washington, contact us at . As an independent agency, we can provide quotes from several highly regarded, nationally known insurers. today. We work with clients throughout Oregon and Washington state. We are always ready to discuss condominium insurance, and would be happy to help you find a policy that suits your home.

The information in this article was obtained from various sources and is not all inclusive regarding the subject matter. This content is offered for educational purposes only and does not represent contractual agreements, nor is it intended to replace manuals or instructions provided by the manufacturer or the advice of a qualified professional. The definitions, terms and coverage in a given policy may be different than those suggested here and such policy will be governed by the language contained therein. No warranty or appropriateness for a specific purpose is expressed or implied.