Secure Your Condo with Comprehensive Coverage
Protect your condominium investment with insurance coverage designed to safeguard your property and assets. Whether you're a homeowner or a property manager, having the right insurance policy in place is essential for peace of mind.
Should you insure your condo?
When acquiring a condo or co-op, insurance is typically mandated by the bank to safeguard its investment in your property. However, beyond this requirement, you may find the need for additional coverage to protect your personal belongings, shield against liability risks, or cover fees associated with shared spaces like the lobby.
What you need
Your Personal Policy
Your individual insurance policy offers comprehensive coverage tailored to your needs. It includes protection for your personal belongings, structural enhancements made to your apartment, and coverage for additional living expenses in the event of fire, theft, or other covered disasters. Additionally, you receive liability protection to safeguard against unforeseen accidents or incidents.
A 'Master Policy'
The "master policy" supplied by the condo/co-op board extends coverage to communal areas shared among residents, such as the roof, basement, elevator, boiler, and walkways. This comprehensive policy encompasses both liability protection and coverage for physical damage, ensuring collective protection for all residents.
additional coverages
Unit Assessment
Umbrella Coverage
Unit Assessment
Unit assessment coverage reimburses you for your portion of an assessment charged to all unit owners as a result of a covered loss. For instance, if a severe storm damages the building's roof, necessitating repairs funded by all unit owners, this coverage ensures you receive compensation for your share of the repair costs.
Water Damage
Umbrella Coverage
Unit Assessment
Water back-up coverage protects your property against damage caused by the back-up of sewers or drains. It's important to note that this coverage may not always be automatically included in a policy, so it's crucial to verify its inclusion and ensure you're adequately protected.
Umbrella Coverage
Umbrella Coverage
Flood & Earthquake
Umbrella liability insurance offers an affordable means to enhance your liability protection and extend coverage beyond what's typically included in a standard condo/co-op policy.
Flood & Earthquake
Flood & Earthquake
Flood & Earthquake
In regions susceptible to floods or earthquakes, acquiring separate policies for these disasters is essential. Flood insurance is accessible through FEMA's National Flood Insurance Program (NFIP), while earthquake coverage can be obtained via your insurance agent.
Floater
Flood & Earthquake
Floater
For individuals possessing valuable jewelry, furs, or collectibles, securing additional coverage through a floater or endorsement is advisable. Standard policies typically impose a $1,000 to $2,000 limit for theft of jewelry, making additional coverage essential for safeguarding high-value possessions.
Protect your condo with A Plus Insurance
Ready to Safeguard Your Condo? Get Your Quote Now
Ensure your condo and personal belongings are adequately protected against unforeseen events with our comprehensive insurance solutions. From coverage for structural enhancements to reimbursement for unit assessments, we offer tailored policies to meet your unique needs. Don't leave your investment vulnerable to risks—request a quote today and gain peace of mind knowing your condo is fully protected.
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