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Condo Insurance

Owning a condo is similar to living in an apartment. The difference is that you own the condo instead of renting it as a tenant. You don’t own the entire building, but the same in which you live is owned by you. You are responsible for this space, and you are responsible for having condo insurance.

Depending on the policy, it may protect your possessions or it may insure everything on the inside of your condo – including the walls and appliances. You may also have liability coverage included. If you own and live in a condo, then you need this insurance. Without it, you will have no financial protection in the event of a mishap inside of your condo.

How it Works

A condo policy is similar to renters or homeowners insurance. If your condo is damaged by an event that is covered in your policy, then you notify your insurer and make a claim. The insurer will survey the damage and make a settlement offer.


If your condo association has a bare walls policy for the building, then that means coverage stops at your door. You need to insure everything inside your condo. If your building owner has an all-in policy, then you only need to insure your own possessions and appliances.


The financial assistance provided by condo insurance is its biggest benefit. You will receive help in repairing damages or replacing items. There really is no downside to this coverage.