Do I need homeowners insurance for my condo?

Yes, it is generally advisable to have homeowners insurance for your condo. While the structure of the building itself is typically covered by the condominium association’s master policy, your personal belongings, improvements or alterations you make to the unit, and personal liability are usually not covered by the association’s policy.

Condo insurance, often referred to as HO-6 insurance, typically includes:

1. Personal Property Coverage: This covers your personal belongings, such as furniture, clothing, electronics, and other personal items in case of events like theft, fire, or vandalism.
2. Improvements and Betterments: If you make upgrades or improvements to your condo, such as adding a new kitchen or bathroom, your insurance can provide coverage for these enhancements.
3. Loss of Use: This coverage can help with living expenses if your condo becomes uninhabitable due to a covered event, such as a fire or storm.
4. Personal Liability: This provides coverage if you are found legally responsible for injuring someone or damaging their property.

Before purchasing a condo insurance policy, it’s a good idea to review the condominium association’s master policy to understand what is covered. This way, you can tailor your individual policy to fill in any coverage gaps. Additionally, it’s recommended to consult with an insurance professional to ensure that you have the appropriate coverage based on your specific needs and the requirements of your condominium association.

Contact The Howard Steele Agency

At the Howard Steele Agency, we specialize in homeowners insurance in Central Oregon and can help you get an affordable quote regardless if you own a home or a condo.

To learn more about our homeowners insurance, or to get a quote, contact us today by calling (541) 318-8835 or click here to connect with us online.

We offer affordable rates, excellent service and great support, contact us today, you will be glad that you did!