Unique Experience for Your Unique Risks
At Butwin Insurance Group, our unique experience in providing insurance solutions to owners of condos and co-op’s makes us uniquely qualified to support your needs.
Owning a condominium or co-op means that you and other owners have common and individual insurance needs. Your condominium or co-op association certainly has insurance for common areas such as courtyards, walkways and yards, which is likely paid for as part of your Homeowners Association (HOA). But the HOA is seldom responsible for the interior of your home or any of its contents. That means that if your condo or co-op is destroyed, you are responsible to replace any or all of its contents.
Condominium and Co-op insurance is similar to homeowners insurance in that it covers what you will pay to replace your possessions at current prices.
Working With Butwin Insurance Group, we Will Design the Right Policy to Ensure You're Well Covered. A Typical Condo or Co-op Insurance Policy Will Include:
- Personal Property Protection – covers the loss or damage to your personal items
- Real Property Protection – coverage for things you own such as fixtures and other installations that are not typically considered personal property
- Guest Medical Protection – covers medical costs for visitors injured at your home
- Additional Living Expenses – reimbursement for costs of temporary housing during reconstruction
- Building Property Protection – coverage for your unit
You should consider adding loss-assessment coverage to your condo policy. If your condo association requires an assessment on all unit owners for certain covered losses, this coverage would pay for your share. You should also make sure that you protect your valuables such as jewelry, computers, and other electronics, with additional high-value item coverage.