Condominium Insurance

As the owner of a condominium unit, your insurance needs are different from other homeowners. Here’s why: A master policy purchased by your condo association covers your unit’s building, the common areas, and the unit owners’ collective liability. But that policy does not cover damage to your personal belongings or property within your unit that is caused by vandalism, theft or fire. Nor does it cover your personal liability in the event of a lawsuit. The condominium unit owner’s policy can provide the protection you need at a price you can afford.

The essentials of quality protection

Condominium unit owner’s policy can cover:

• Furniture
  
• Clothing
  
• Appliances
  
• Many other personal belongings
  
• Covered items you take while traveling
  

Personal liability coverage can provide you and your family with financial protection if someone is accidentally injured or their property is damaged:

• By you, your children or pets
  
• While on your property
  

Your policy may also cover:

• Costs associated with defending you in a lawsuit related to injury or property damage
  
• You, if your credit cards, ATM cards, or checks are stolen or used without your permission
  
• Costs which the condo association assesses on all unit owners due to a loss on common property which exceeds the master policy limit.
  
• Building improvements and betterments – Additions and alterations you have made to your unit, such as fine flooring, built in cabinetry, etc., are not usually covered by the association master policy. Coverage for these items may be added to your policy.
  

Customize your protection with additional coverages

Some optional coverages include:

Replacement Cost Contents - eliminates depreciation on the contents of your home.
Valuable Items - provides broader coverage for special property such as jewelry, silverware, fine arts, furs, cameras, guns, musical instruments, and personal computers. There are limits in all condominium insurance policies for these items. We can help you fill these gaps.

Prices and discounts to save you money

The condominium unit owner’s policy is competitively priced. And to make it even more affordable, Clarke and Sampson offers ways to reduce the cost of your insurance with a wide range of discounts if your condo is equipped with:

• Anti-theft Devices
  
• Smoke detectors
  
• Fire alarms
  
• Deadbolt locks
  
• A sprinkler system
  
• Fire extinguisher
  
• Account credits (Home and Auto)

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