With condo insurance, you’re protected from various incidents that could disrupt your life and finances. Here’s what you need to know:

• Personal Property Protection: If your belongings are damaged or destroyed due to events like fire, smoke, water leaks, vandalism, or theft, condo insurance helps cover the cost of replacement. That means you won’t have to dip into your savings to replace your essentials.
• Liability Coverage: Accidents happen. If a visitor slips and falls inside your unit, liability coverage can help with medical expenses and potential legal fees. This protects you financially if someone is hurt in your space.
• Loss of Use Coverage: Imagine if your condo needed repairs after a fire or flood. Where would you stay during that time? Condo insurance typically includes coverage for additional living expenses, such as hotel bills, so you have a place to stay while your home is being restored.
• Limited Structural Coverage: Condo insurance can also cover some parts of your unit’s interior, like built-in appliances or flooring, depending on your policy. This coverage varies based on your association’s master policy, so it’s important to review what’s included to understand where your personal policy fills in the gaps