Condominium Insurance

Coverage for Your Condo Unit

condo insurance

Condominium Insurance

A condominium association’s master policy and your individual unit-owner policy serve different purposes. Reviewing both helps identify what the association insures and what remains your responsibility.

Coverage to Discuss

  • Interior building items or improvements you are responsible for.
  • Your personal belongings.
  • Additional living expenses after a covered loss.
  • Personal liability and medical payments, as provided by the policy.
  • Loss-assessment coverage, including its limits and exclusions.

Association bylaws, master-policy deductibles, and the type of master coverage can affect your needs. A unit-owner policy does not automatically cover every assessment or every kind of water damage.

Bring the Full Picture

For a useful review, have your association’s insurance information, relevant bylaws, details of improvements, and your current policy ready. Tell us whether the unit is your primary home, a second home, or rented to others.

The Wisconsin insurance regulator’s condominium insurance guide explains the general relationship between unit-owner and association coverage. New Jersey requirements and your own policy documents should be reviewed for your situation.

Talk With Milber Multi Services

Tell us about your needs and ask for a coverage review. Call 908-603-7500 or contact our Oradell office.

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