Get a Quote for Condo Insurance Today
It can take just a few minutes to get a condo quote. Condo insurance includes personal liability coverage, which can provide coverage if someone gets hurt while visiting. It can also provide coverage for your personal property, such as your furniture and electronics. Even if your condo association has insurance, you may still need condo insurance to help cover your personal property and personal liability.
Personal Property Coverage
A condominium unit owner policy can provide coverage for your furniture and personal possessions against covered risks, such as fire, lightning and hail. Also known as "ontents coverage," it can help ensure that your property is protected up to the amount of protection you purchase.
The condominium unit owner policy can also protect your property against many types of theft loss in your condo or anywhere in the world. Also included is coverage that can pay for theft from your unattended car or boat.
Special Limits of Liability for Certain Possessions
Most condo policies include special limits of liability for certain types of property. For example, $200 for money and coins, and $1,000 for theft of jewelry, watches or furs. You generally can choose to increase these amounts.
Professional Liability Protection
If a claim is brought against you or you are sued for accidentally hurting other people or damaging their property, liability coverage can help to cover the associated legal costs and related damages. Most condo unit owner policies provide $100,000 (minimum) in personal liability coverage for covered bodily injury and property damage sustained by others for which you or covered residents of your household are legally responsible.
Dwelling, Additions and Alterations
A condo unit owner’s policy can also provide coverage in other situations as well. According to your condominium declaration and/or bylaws, and/or the state where you live, you may be responsible for interior parts of your unit such as glass, walls and doors. Additions, alterations and other improvements made to your unit can also be covered up to the dwelling coverage limit.
Loss Assessment Coverage
Generally, condominium insurance can provide up to $1,000 of protection if damage to commonly owned property exceeds the amount of coverage in the condominium association's insurance policy. If your condo association assesses all unit owners for the additional loss (or for personal liability claims against the association), this coverage can help. This amount may be increased.
Coverage for Other Structures
You may own other structures that are not part of your condo unit, such as a carport, detached garage or storage shed. If these structures are not considered to be common property, they generally are not covered under your association's insurance policy. Coverage options may be available as part of your condo policy.
Broadened Coverage for Contents
Special personal property coverage provides "all-risk" protection for your possessions. This generally means that your personal property can be covered when damaged in many situations, regardless of the cause of loss. This is subject to coverage terms and limits.
Contents Replacement Cost
Personal property replacement cost loss settlement provides for settlement of covered personal property losses based on replacement cost at the time of loss, with no deduction for depreciation. The coverage is subject to applicable policy limits and deductibles, and special limits apply to certain items such as jewelry, watches and furs.
Valuable Items Plus
Valuable items plus provides protection for special property such as jewelry, fine art, musical instruments, and home computers for an extended variety of losses and can provide higher limits of coverage. For your convenience, no appraisal or listing of insured items is required.
Ways to Save
You could save when you bundle your condo insurance with other Travelers policies.
Green Home Discount
You can save up to 5% if your condo is already certified as a “green home” by the Leadership in Energy and Environmental Design (LEED) organization.
Home Buyer Discount
Available to customers who have purchased their home within the 12 months prior to the policy effective date.
Offered to eligible customers who have not experienced a loss within a specified time period.
Protective Device Discount
You can save by having devices such as:
- Smoke detectors and fire alarms
- Interior sprinkler systems. Home security systems and theft alarms
- Smart or connected home technology, which alerts you that a fire or burglar event is occurring
Frequently Asked Questions
Explore condo insurance questions, from what condo insurance covers, to how to get a quote. Get answers to your condo insurance FAQs at Travelers.
Through the program, you may have access to exclusive savings on condo insurance. These savings are not available to the general public and could save you hundreds of dollars on condo insurance.
An insurance representative can help you determine the condo coverage that best fits your needs and budget, but a typical policy can cover:
- The structure of your physical unit (can vary based on association requirements)
- Your personal belongings
- Additional living expenses if you cannot live in your condo due to a covered loss or repairs
- Your personal liability or legal fees
- Valuable items (extra coverage can usually be added)
When figuring out how to choose condo insurance, consider these key questions:
- What is the estimated cost to replace, rebuild or repair your condo unit — the “replacement cost”? − Do you need walls-in coverage or coverage for the entire unit?
- Do you own any additional structures on the property (e.g. garage)?
- How much of a deductible can you afford to pay if you have a loss?
- What are your valuables worth?
- Do you have frequent visitors over?
- Do you work out of your condo?
- Do you rent any part of your condo or property?
- Do you qualify for any discounts?
- What are the basic coverages required by your mortgage lender?
- Does your condo association have any coverage requirements and gaps that you need to address?
Licensed insurance representatives are happy to walk you through all of this step by step, and can help you review your needs.
Choosing a condo insurance policy starts with choosing the right insurance company. Travelers has been one of the nation’s leading and largest property casualty companies for over 160 years. We offer a variety of policy options and packages to help you get the coverage that meets your unique needs.
We can provide you with information to help you protect the place you call home. We can also give you peace of mind with a claims process that is simple and stress free.
Not usually. Condo insurance is not generally designed to cover business use of your home. It may include limited protections, such as replacement or repair of computers and other electronic devices, but for more comprehensive coverage, you may require a business owner’s policy.
If you are an employee or member of one of our participating employer, credit union or association groups, you could be eligible for special program savings. Plus, Travelers offers discounts for multiple policies, security systems or fire protective devices, smart home technologies, loss-free history, and more. Discounts vary by state and eligibility. Your representative can help apply the discounts for which you qualify.
The cost of your insurance, or premium, partly depends on the coverages, deductibles and policy limits you choose. Here are a few tips that can lower your premium:
- Talk to your insurance representative about your insurance needs and eligibility for discounts
- Invest in smoke detectors, interior sprinkler systems, home security and smart home technologies
- Bundle or purchase multiple policies with Travelers, such as car, boat and umbrella insurance
Personal property coverage (Coverage C) is required on all condo policies. It can help repair or replace personal items in your condo like furniture, clothing or electronics that may be damaged by a covered loss.
Other assets like cash, collectibles, jewelry, furs and silverware may have limited coverage, but additional coverage may be available with a valuable items endorsement or a separate policy. Think about what it would cost to repair or replace your personal belongings and valuable items, and if additional coverage would make sense for you.
Liability insurance helps protect your assets and cover your defense costs if you or a household family member is found legally responsible for causing injury to other people or their property. It can provide coverage for bodily injury, property damage, medical payments and legal expenses.
Do you have a high level of risk or many assets to protect? You can always discuss your liability coverage needs, options, deductible and policy limits with your insurance representative.
If you are unable to occupy your condo due to a covered loss, additional living expenses coverage can help you pay for increased temporary housing and some living expenses. This can include hotels, meals, laundry and other related expenses.
Note: you are still responsible for your deductible, as well as any related costs above your policy limits. An insurance representative can help you determine the amount of coverage that would be appropriate for your situation.
Coverage for damage to additions, alterations and improvements you’ve made to your condo unit. Generally, this is part of the dwelling coverage (Coverage A) and may include items such as appliances, flooring, kitchen renovations and more. If you financed any of these improvements, your lender may require certain coverage options and limits.
Think about what it would cost to repair or replace any of these improvements. Then talk it over with your insurance representative.
Here are a few common optional property coverages available for you to consider:
- Contents replacement cost - Covers the replacement cost for most of your personal property
- Valuable items coverage - Provides extra protection for items like jewelry, collectibles, and fine art
- Broadened content coverage - Protects your personal property against additional types of losses
Well, it depends. Generally, your condo association’s master policy would cover what’s outside your walls—the physical structure of the condo unit and common areas—and your personal condo policy would be responsible for everything in them. This includes the structures inside your unit like the kitchen, as well as your personal belongings (e.g. electronics, sporting goods, furniture and clothing).
You should review your association’s bylaws and the association’s insurance policy to understand where their responsibility ends and yours begins. Then, an insurance representative can help you determine the coverages and limits that would best protect you and your home.
Possibly. Updates to your condo like renovating a kitchen, expanding a bathroom or attaching a deck may affect the amount of coverage you need.
Check in with an insurance representative when you’re doing a big project, make a big purchase, or on an annual basis, to help ensure your policy remains adequate and up to date.
If you have liability insurance, you may have some coverage for bodily injury, property damage, medical payments and legal expenses if you or a family member is found responsible for causing injury to other people or their property. It does not cover personal injury claims for you or any family members that live with you.
Damage or theft of personal belongings can be covered under personal property coverage of a condo policy. This coverage helps protect items like electronics, sporting equipment and furniture up to your policy limit. It also covers your personal items when they are outside of your home, like if your computer got stolen from your car or hotel room.
Cash, collectibles, jewelry, furs and silverware may only have limited protection and may require a valuable items endorsement or a separate policy.
Explore Our Products
Get protection that can give you peace of mind when you're on the road.
Protect your home the way it protects you by choosing the property insurance coverage that meets your needs.
Renters insurance can help to cover more than your personal property. It can help to protect you from personal liability, so you can rest easy.
Your condo association may have insurance, but your individual unit has its own coverage needs. Condo insurance protects your personal property and liability.
Knowing that you, your passengers and your vessel are protected can help you relax and enjoy your time on the water.
This liability coverage may go above and beyond your car and home insurance policies to help protect you from unexpected events.