Category: Condo Insurance

Many people incorrectly assume that their condo is already covered. Smoller Insurance Agency knows this misinformation can be costly.

While landlords and building associations have their own policies, these protections are limited for condo dwellers. For this reason, condo insurance isn’t just a good idea. It’s a necessity.

Luckily, Smoller Insurance Agency in Boston, MA is ready to help.

While every condo insurance plan is personalized, here are four items that every policy should include:

Safeguards the interior

An owner’s insurance coverage extends only to the structure itself. The interior is rarely included. Luckily, condo insurance fills this gap. Flooring, fixtures, cabinetry, and even walls are shielded against destruction, vandalism, and other types of damage.

Protects belongings

This applies to your belongings too. Furniture, appliances, and electronics are covered against loss. But jewelry and other valuables are also likely included. While every policy will list specific events, damage from natural disasters is usually included. Vandalism and theft may also be covered.

Offers liability

Like any other insurance plan, liability coverage is key. If an accident occurs inside your condo, this coverage will reimburse you for most property, medical, and other injury-related costs you may have incurred. Legal expenses may be included as well. This extends to you, your family, and your guests.

Accounts for loss of use

Condo insurance is about being prepared. If you are forced to temporarily relocate due to a serious incident, your condo insurance policy can chip in. Additional living expenses, like meals, hotels, and travel, may be included.

Give Us A Call

When you rent or own a condo, only a specialized condo insurance policy can provide the protection you need. Smoller Insurance Agency in Boston, MA will find a personalized plan that’s right for you. Schedule an appointment today.

Condo living is a great way to break into the housing market. It offers many of the same benefits as traditional home ownership and some additional perks as well. Insuring your condo is very similar to insuring a single-family home with a few unique twists. At Smoller Insurance Agency in Boston, MA, we have the experience you expect from an independent insurance agency. We will help you to make sure your condo has the correct amount of insurance. 

With a condo, you share walls and other parts of the building with your neighbors. These common areas are not something that you personally are responsible for insuring. Your condo has a condo or homeowners association that holds a Master Condo Policy. This policy insures the common areas in your building and in the complex. How far into your unit is covered depends on the type of policy your association has. It is up to you as a unit owner to know what coverage the association has and what you need to have. 

When it comes to home insurance, you are responsible for your entire home. As a condo owner, you may be covered by the Master Policy for all the fixtures in your home, but not for any upgrades you have made from the original basic unit. 

When it comes to personal content and liability coverage, homes and condos within the unit are basically the same. In a condo, if someone is injured outside of your unit, that is the condo association’s problem. 

With a condo, you will also have the option of purchasing loss assessment coverage. If the condo association determines that the roof needs to be replaced, all owners will owe part of the cost. This insurance will protect you from having to pay this assessment out of pocket. 

Contact Smoller Insurance Agency in Boston, MA to discuss your condo insurance needs.