100 W. Big Beaver Rd. Suite 200 Troy, MI 48084                                                jerry@jtinsuresme.com

     JT ​Insures Me

   Insurance Agency

Condominium Insurance                                 

What condo insurance covers

Most standard, individual condo or H06 insurance covers:

Personal property: Helps replace belongings stolen or lost in a covered incident (like a fire). Your stuff can even be protected on the go.

Personal liability: If someone is injured inside your unit, or you accidentally injure someone away from home, this helps protect your assets and savings.

Damage to unit structure: Unlike in an apartment, in a condo you own everything inside your unit's walls, like carpeting, ceilings, and countertops. So, it's up to you to insure them.

Additional living expenses: If your condo is damaged to the point that it's uninhabitable, this helps relocate you and pay living expenses while repairs are made.

Cost of condo insurance

Because your condo association covers the outside of the building, among other things, you don't have many of the worries or risks traditional homeowners do.

A typical condo insurance premium is determined using factors such as:

Types and amount of coverage you choose
Your personal claims history
Weather risks
Your deductible
Your credit rating
The value of your belongings

Most condo owners have a bevy of simple options to trim costs or score discounts. Buying multiple policies with the same insurer, installing security systems and smoke detectors, improving your credit, or raising your deductible can all result in savings.

Also ask us about the following additional coverages:
Unit assessment.
This reimburses you for your share of an assessment charged to all unit owners as a result of a covered loss. For instance, if there is a fire in the lobby, all the unit owners are charged the cost of repairing the loss.
Water back-up.
This insures your property for damage by the back-up of sewers or drains. Water back-up may not always be included in a policy. Check to see that it is included.
Umbrella liability.
This is an inexpensive way to get more liability protection and broader coverage than is included in a standard condo/co-op policy.