Condo Insurance
Save More on Your Condo Insurance Policy
Condo Insurance Coverage That Protects What’s Yours
Avanta Seguros offers condo insurance that provides coverage for your personal belongings, the interior of your unit, and more. Keep in mind that your condo association’s master policy usually covers the exterior of your condo. If you need help customizing your coverage, our licensed representatives are available to assist you in choosing the right protection options.
Standard Coverages
Personal Property Coverage
Your clothing, electronics, furniture, appliances, tools, and power equipment are covered up to a specified limit, even if they are not physically inside your condo. If you own high-value items such as jewelry or artwork, you may need an insurance rider to fully protect them.
Example: A leak in your condo’s roof causes water damage to your clothes, furniture, and other personal belongings, resulting in thousands of dollars in losses. In most cases, your condo association’s master policy will not cover personal property unless negligence is proven. Your Avanta Seguros condo insurance policy can help cover these damages.
Loss of Use Coverage
If your condo suffers damage from a covered event and becomes uninhabitable, this coverage can pay for temporary living arrangements, including hotel stays and additional meal expenses beyond what you usually spend.
Example: A fire damages your condo, and you need to stay in a hotel for two weeks. Your hotel stay costs $2,000, and you have additional food expenses. Your Loss of Use coverage will reimburse these costs, provided you keep receipts as proof for your claim.
Liability Coverage
Liability insurance helps cover costs if you are legally responsible for injuries to another person or damage to their property. You may also add optional coverages for libel, slander, or other legal matters.
Example: A guest visits your condo and slips on a rug you knew was loose. They fall and break their leg, resulting in medical expenses and lost wages. If they sue you, your Avanta Seguros liability coverage can help pay for their medical bills and lost income.
Ways to Save
Bundle Condo & Auto Insurance
Save an average of 7% on your car insurance when you bundle your condo and auto insurance with Avanta Seguros. Your discount will be automatically applied to your auto policy.
Pay in Full
By simply paying your condo insurance premium in full upfront, you qualify for an exclusive discount.
Alarm Systems and Safety Devices
Protect your condo and save money! You may be eligible for discounts if your condo has burglar alarms, fire alarms, automatic sprinklers, and other security features.
New Condo Purchase Discount
If you have recently purchased a new condo, you may be able to earn an additional discount on your policy.
Frequently Asked Questions About Condo Insurance
Is Condo Insurance Required by My Homeowners Association (HOA)?
Every HOA has different requirements. Some may require you to contribute to the HOA’s master insurance policy, which typically covers the exterior of the condo building. However, if you are financing your condo through a mortgage lender, they will likely require you to have a condo insurance policy.
What If I’m Renting a Condo?
If you are renting a condo, it’s a good idea to have renters insurance, even if it’s not required by your condo association or landlord. Renters insurance is affordable and can help cover personal belongings and liability claims if you are responsible for injuries or damages.
What’s the Difference Between Condo Insurance and Homeowners Insurance?
Both policies cover personal belongings, liability, and additional living expenses, but the biggest difference is that condo insurance does not cover the exterior structure of your home—this is typically covered by your condo association’s master policy. Additionally, condo insurance may not provide liability coverage for injuries that occur in common areas such as hallways, parking lots, and shared amenities.
Are Townhomes Covered Under Condo Insurance?
If your townhome is part of a condo association, you may be able to cover it under a condo insurance policy. However, if you own the exterior structure of your townhome, you may need a homeowners insurance policy to provide full coverage.
Protection Tailored for Condo Living
Get coverage that complements your HOA’s policy and protects your belongings, unit, and liability.
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