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Different from home insurance, condominium insurance is designed specifically for condos, and it covers what you keep inside of yours. When you own a condominium, you — not your condo association — are responsible for what's inside your condo.
Condo owners should protect their investment by insuring their personal property and parts of the unit that are not covered under the association's master policy. Sometimes interpreting the master policy can be tricky. Your own policy must not only pick up coverage for your belongings and personal liability but also protect the interior structural parts of your unit not covered by the association master policy.
But you won't find that information in the master policy. Rather, you will find it on a page in the condo association documents, usually called the declaration. It will define what the association is required to insure and what you, as a unit owner, are required to insure including items such as light fixtures, improvements and betterments, flooring, cabinets and even your TV.
Condo policies also have many discounts available.
That's why having a personal condo insurance policy is important and LP Insurance can discuss your options and give you the coverage that’s right for you.
Call LP Insurance for all your insurance needs.
Insuring the condo and your belongings under the general terms of condominium policies, your policy should cover your personal property from 16 perils:
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