Condo Insurance

Condominium insurance is unique. Your condo insurance policy covers your personal property and liability, as well as any additions, alterations and improvements you make to your unit that are your responsibility based on the condo association agreement.  

Optional loss assessment coverage is also available to protect you against certain assessments that may be levied by the association. You would be compensated for additional living expenses incurred should you need to vacate your condo after a covered loss. Let City Insurance help you find the right amount of coverage to suit your insurance needs Minnesota. Call us today at (763) 582 1888.

Minnesota – What you need to know about condo insurance

Condo insurance provides coverage for your personal property and much more. For a few more dollars, you can elect to carry Full Value Personal Property which ensures that you are reimbursed full replacement value without regard for depreciation after a covered loss.

If you have upgraded cabinets or put in hardwood floors, condo building item coverage protects these investments. Be sure to consult your HOA agreement to determine what the Association policy covers and what you are responsible for.  If common areas are damaged, your condo association may levy assessments against all the owners to pay the deductible on their association policy.

Various limits of loss assessment coverage are available. Be sure to consult the HOA agreement to determine the potential for such assessments. City Insurance can help you determine your coverage needs to make sure you’re properly covered. Call us at (763)582 1888 or online at contactus@cityinsurancemn.com.

Protect yourself and your guests
Your condo insurance policy protects you and your family members against bodily injury and property damage liability claims and any litigation that may result subject to the limits you select. In addition, you can select medical payments coverage which will pay for medical expenses incurred by a visitor who is injured at your residence regardless of fault. Various limits are available.

Extra coverage doesn’t have to cost a lot
Many people supplement their condo insurance coverage with personal umbrella liability insurance for broader protection. If you have special valuable items such as jewelry, art, antiques or collectibles, ask about our Valuable Articles option which provides broader coverage and no deductible in the event of a covered loss.

Find unique insurance that is right for your condo
Contact City Insurance to identify the best combination of coverage, value, and price for you. We can help make sure your condo insurance continually meets your needs. Call us at (763)582 1888 or online at contactus@cityinsurancemn.com.

Condo or Condon’t — Condo Insurance

You’ve taken the plunge and opted for condo life.  Now that the papers are signed, it seems like everything is taken care of for you—building maintenance, roof repairs, landscaping, insurance, etc.  It’s time to relax because everything is covered, right?             

Not quite.  The insurance policy provided by the condo association covers the building structure and common areas, but what about potential structural damage to your unit and covering your belongings?  Without a personal condo insurance policy, you could be left high and dry if your unit floods, is damaged in a fire, etc.

Most condos need two insurance policies.

Master Policy: 

Generally provided by your condo association, this policy covers the physical structure of the building, including basement, roof, walls, elevators, lobbies, etc.  Coverage usually includes both physical damage and liability. Get a copy of the policy so you know what’s covered.

Personal Condo Policy:

This will cover additional structural damage to your unit, including cabinets, appliances, personal belongings, and more.  This also covers living expenses if you fall victim to a fire, theft, or other covered disaster.  Many insurance carriers, such as Safeco InsuranceTM, offer enhancements that include personal property protection in your condo insurance policy. Safeco’s Full Value Contents® protection will pay the full replacement cost of your belongings, not just what they are worth today.

Other coverage to consider:

Umbrella Policy:

If someone were to trip and fall inside or near your condo, they could sue both you and the condo association.  Umbrella provides additional layers of liability protection and can protect against lawsuits that target both your current and future earnings.

Flood or Earthquake: 

Read the fine print on your policy.  They often won’t cover damage due to these disasters.  Additional coverage may be required if you live in a prone area.

Talk with City Insurance today: (763)582 1888 or contactus@cityinsurancemn.com to identify the best combination of coverage, value and price just for you.