Condo Insurance is a specific form of homeowner insurance designed for individuals who own a unit in a building that is legally deeded to a condo association. Because you don’t own the building or the land, your needs are different. Your condo association will carry a policy to cover the building. However, you need additional coverage because the association insurance policy does not cover your personal property or personal liability.

In addition, the condominium association policy is limited. You may be responsible for covering the inside walls of your unit such as flooring, plumbing fixtures, cabinets and interior walls. Also, condo associations can assess unit owners for damage not covered by the master insurance policy. For this reason we recommend adding loss assessment coverage to your individual unit-owners policy. 

MTM’s trained insurance professionals can assist you in determining the policy that best fits your needs. We can help you with:

Two of the factors that affect your premium the most are the value of your personal property and the building items you are responsible for insuring as mandated by the by laws.

A great way to get started is to furnish us with a copy of your association by laws and complete an inventory of your personal items.      

There are many helpful tools out there to assist you with inventory, such as Homezada Inventory AP.