Adequate condo insurance protection starts with understanding your Association by-laws.

Individuals living in a Condo or Townhouse require two separate policies, individual condominium insurance and a master policy provided by the Association. Most insurance carriers offer a discount when you bundle your auto insurance with the condo policy. Other discounts that may apply are non-smokers, security system, claims free, EFT or pay in full.

Know Your Insurance Responsibility

To ensure you and your insurance agent designed adequate protection with a Condominium Insurance policy, it's important to know and understand the Association’s by laws or lease agreement, for example:

  • Sometimes the Association is responsible for insuring the individual units as they were originally built. Any remodeling or alteration to the original unit by you or a previous owner could be your insurance responsibility.
  • In another situation, the Association may only be responsible for insuring the bare walls, floor & ceiling. Leaving you responsible for insuring the kitchen cabinets, built-in appliances, plumbing, wiring, fixtures, etc.
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Essential Coverage

An individual condo insurance policy from The Richards Group will cover personal possessions, personal liability and interior structural improvements specific to your unit. The master condo association policy is designed to cover the shared common areas for both liability and physical damage. Both policies offer coverage from loss due to fire, theft, vandalism and other events outlined in the policy.

Did you know it doesn’t cost you more money to work with an independent insurance agency?

Need more reasons to work with us . . .

When you work with The Richards Group, you get all of this and more at no cost to you:

  • Eco-friendly paperless insurance with the convenience of e-signatures.
  • 24/7 Claim Support from our dedicated in house claims department.
  • Bundle & Save with discounts up to 20% when you bundle your car and condominium insurance.
  • Access to a team of insurance specialists who help you with your current and future insurance needs.
  • Competitive premium rate options from multiple insurance companies.
  • Continued review of your insurance year after year to keep the coverage and rates where they should be.

A condominium insurance policy typically includes the following coverage up to the limits specified in the policy:

Personal Contents – including furniture, clothing, kitchen items, and other personal belongings.

Dwelling Coverage – interior unit structural items that you are responsible for.

Additional Living Expenses – if the dwelling becomes unlivable due to a covered loss.

Liability – if someone is injured or has property damage while on your premises.

Medical Payments to Others – helps to pay for medical or funeral expenses.

Loss Assessment – when the Association charges an assessment to the unit owner as a result of a loss.

If you have questions or concerns about purchasing the right insurance to cover your condo or townhouse, we invite you to consult with one of our personal insurance specialists about Condominium Insurance.