Condo Insurance

Understand a Condo Insurance Policy

Condo owners need to protect their homes with condo insurance. They are slightly different than traditional home insurance policies. Home insurance policies cover the house and any outbuildings on the property. Renters insurance doesn’t include the physical structure but protects any personal possession in the apartment. In both cases, it allows the individuals to repair or replace any items damaged by a disaster. As most people consider condos to be somewhere between a home and an apartment, there can be a little confusion about the nature of condo insurance. At SteelKey Insurance LLC, our team of agents work with condo owners throughout Pennsylvania. You have questions, and we can answer them!

What Kind of Policies are Available?

Condo associations will secure a master policy. This policy will cover the physical building and structures on the grounds. It will also protect any common areas with their fixtures and any furniture. The type and amount of coverage vary from association to association. You must understand the coverage your association has as they tend to change periodically. Condo associations typically carry two types of policies, "walls in" and "walls out." With a “walls in” policy, interior fixtures inside the condo may be covered. It will not cover any upgrades that have been made to the unit. “Walls out” policies do not cover any fixtures inside of a condo. They do, however, cover everything outside of a unit. Neither policy will cover any personal items, furniture, or electronics inside of a condo.

When you purchase a condo in Pennsylvania, you need to invest in the condo insurance that is right for you and your situation. Gather the information on your condo association’s master policy then come in and visit with our knowledgeable, trusted agents. They can help you put the right coverage in place. Don’t wait until a disaster happens to find that your coverage has gaps in it. Come work with our agents for coverage today!


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