The following are covered under most condo insurance policies.

Personal Property Protection
This is coverage to replace your personal property. You must determine whether you want to insure for the replacement cost or the actual cost value (ACV) which is the depreciated value of the items.

Interior Structure
Coverage to replace flooring, cabinets, dry wall, cabinets, fixtures and A/C inside your condo are not covered by your condo association. Be certain to insure for any renovations you have made to your condo.

Liability Protection
Provides coverage against a claim or lawsuit arising from bodily injury or property damage to others caused by you or family members on your property or elsewhere in the course of your activities. Please note: Your association’s liability policy only applies only to the condo’s common areas such as the clubhouse, lobby, elevators, and hallways.

Guest Medical Protection
This pays for medical expenses of visitors injured in your unit.

Additional Living Expenses
This coverage reimburses you for the cost of temporary housing during reconstruction.

Loss Assessment
This coverage pays for your share, up to your policy limits, when your association requires an assessment on all unit owners for certain covered losses.

Have questions? Please call the insurance experts at Cato Insurance Group at 1-888-775-CATO (2286).