Condo Insurance

Condo Insurance Policies

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What is Condo Insurance?

Condo insurance is like home insurance, except it’s for people who live in a condo. Regular homeowner’s insurance is for homes, and does not include condos – although people live in them. A condo association can also get insurance to cover public spaces in the condo. However, that insurance does not cover a tenant’s private living space. That’s what condo insurance does.

How it Works

Like all insurance, condo insurance policies require monthly payments or semi-annual payments to keep the policy active. In exchange, the insurance company promises to offer protection against several different kinds of damages that may occur in a condo.

This insurance is also meant to complement a condo association’s insurance policy. Tenants pay condo fees that pay for insurance that protects common areas on the property. In most cases all fixtures and structures are covered by the policy. But this does not include private spaces.


Several things are covered by this insurance. All of the structures you own, including garages, sheds, and structures, are covered for damage due to fire, theft, flooding, vandalism and damage by other means. These policies also cover expenses when someone is injured on the property. This includes coverage for medical or legal expenses to defend the policyholder.

Benefits of Condo Insurance

The best thing about condo insurance is that it covers things the condo association’s insurance does not. This coverage gives the tenant added protection for their living space. The condo association is not responsible for a tenant’s private space. It would cost entirely too much to insure individual units. But the tenants do need the extra protection. That’s why condo insurance is a smart idea.

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