PERSONAL INSURANCE
Condominium Insurance
About Condominium Insurance
When purchasing a condo or a townhouse, there are two things to remember when it comes to insurance.
- Your condo association’s master insurance policy covers the outside of the building's structure, the roof and common areas such as pools and sidewalks.
- The master policy will not insure the inside of your unit or any of your personal belongings.
BLG understands that all condo insurance policies are not equal. Depending on your exact situation, BLG Insurance Specialists will consider what you have inside your condo or townhouse. Most Condominium Insurance Policies will pay varying amounts of coverage to replace your wall coverings, flooring, light fixtures, carpeting and personal belongings. This coverage may need to change according to any alterations or additions you may have made inside your condominium. There two levels of coverage commonly seen in Condominium Insurance Policies:
- Actual Cash Value- which is the based on the actual value at time of loss.
- Replacement Cost- which is based on the current cost of replacing your belongings with similar items.
See our section on Personal Property Coverage for more information.
At BLG, we want you to be covered for what you need covered, no less and no more. Being under-insured means potential out-of-pocket expense. BLG will create a Condominium Insurance Policy that keeps you covered without overlapping any master policy of the common condominium areas.
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Annual Review
At BLG, we strongly recommend you review your insurance coverage at least once a year. Your driving habits or living situations may have changed. Or, maybe you’ve made a few major purchases throughout the year that should have extra coverage. Inflation or depreciation can affect the value of your properties and their contents. Call BLG now to review, renew or establish your customized insurance policy that fits your world.
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