Condo Insurance in Ohio & Pennsylvania

Why Do You Need Condo Insurance?

If you own a condo, you are already paying HOA dues that are going to an insurance policy, so you may not think you need additional coverage. However, this is not the case. The master policy isn’t enough to cover your interior space and your personal property in Pennsylvania or Ohio. Condo insurance will help protect what you own, which includes all your personal property, ranging from electronics to your furniture. It can also be used to protect yourself. Accidents can happen at any time in your condo, and you may be held responsible. Without condo insurance, you could be on the hook for a considerable settlement claim.

Since condos are placed together, if a fire starts in your neighbor’s unit, you could need to find somewhere else to live while your condo is being repaired. Without condo insurance, you could have to pay for those repairs on your own, as well as for your temporary housing. Condo insurance also will help cover any upgrades you have made to your home. Check with your agent at Ruddy Insurance Group for any additional coverage options you may need.

The Difference Between Condo and Home Insurance

Condo insurance in Ohio and Pennsylvania is similar to homeowner’s insurance, but condo insurance does not cover the exterior of the home. This is due to the fact that it is usually covered by the master condo policy and is paid for through the common charges that owners of each unit pay.

There are some different types of condo policies, depending on what your condo association covers in Pennsylvania or Ohio. A bare walls-in policy is when you are responsible for insuring everything from the walls inward. This should also include the cost of appliances, flooring, and countertops when picking policy limits. An all-in policy means that you aren’t responsible for insuring fixtures and installations so that you can have a small coverage limit. You may be responsible for significant losses, such as when a hailstorm causes damage to many units, so see if you need insurance to cover your specific losses.

Contact Ruddy Insurance Group, serving Ohio and Pennsylvania, to get a quote on condo insurance.