Not all condo insurance policies are the same, so make sure you read the fine print before you sign the dotted line. If you need help decoding the mysteries of your policy, reach out to Muller Insurance in Hoboken, New Jersey. We are an independent insurance agency that works with more than two dozen insurance companies in more than 25 states. We can find the condo insurance policy you need.

Here, we talk about condo insurance coverage.

What Does a Standard Condo Insurance Policy Cover?

Condo insurance is an insurance policy that covers everything within your condo unit. A standard condo insurance policy covers personal possessions that are kept inside of the condo, like:

  • Appliances
  • Clothing
  • Furniture
  • Other personal possessions and property

A condo insurance policy also covers the interior structure of the condo. That means interior walls and kitchen or bathroom cabinetry are often covered in case of a hazard or peril, as long as these structures are covered by the policy.

Most condo insurance policies will cover the following natural hazards and perils:

  • Fire or smoke damage
  • Lightning damage
  • Theft
  • Vandalism or malicious mischief
  • Windstorms

A bonus for condo insurance policies issued by Muller Insurance: the policies will cover accidental discharge of water from an overflowing drain or broken sump pump. Many insurance companies don’t offer that coverage as part of a condo insurance policy — it is usually available as an additional policy.

A condo insurance policy from Muller Insurance will also include liability coverage. Liability coverage protects you in case someone is injured inside your condo by slipping, falling, or getting bitten by a dog.

What Is Not Covered by a Condo Insurance Policy?

There are some hazards and perils that are not covered by a standard condo insurance policy. Such incidents include:

  • Damage to common areas
  • Deliberately caused damage
  • Earthquake damage
  • Flood damage
  • Termite infestations

If you are looking to add additional coverage to your condo insurance policy, Muller Insurance has additional policies, like flood insurance. Some policies even protect your jewelry, fine arts, and other collectibles. Find out what additional coverage is available to condo owners by speaking with a Muller Insurance agent.

Does Your Condo Association Have a Master Policy?

Do you know if your condo association or homeowners’ association (HOA) has a master policy? The condo property should be covered by the HOA’s master policy. A master policy will cover the common areas, including:

  • Elevators
  • Hallways
  • Lobbies
  • Swimming pools

A master policy will also provide liability coverage in case a visitor is injured in one of the common areas. If a visitor to your condo slips and falls on the sidewalk outside of the condo building, the master policy, and not the personal condo insurance policy, will cover that incident.

If you are unaware of a master policy, be sure to speak with your HOA or property manager. Discuss what the master policy of the condo community covers. You should also request a copy of the policy for your records. Make sure to bring a copy of the master policy with you to Muller Insurance so we know what protection your HOA provides. In addition, you should read your bylaws to remain informed of what type of insurance your HOA master insurance policy covers.

Choose Muller Insurance for Condo Insurance

Muller Insurance has called Hoboken, New Jersey, home since 1906. We are an independent insurance agency, meaning we aren’t committed to a single insurance company. We work with over 25 different insurance companies, which allows us to provide our customers with the most comprehensive policies at the prices they can afford. Muller Insurance helps our customers shop around for the best value and can offer clients several insurance quotes at a time.

Some of the insurance companies Muller Insurance works with that offer condo insurance include:

Muller Insurance tries to make insurance easy for our clients. We offer a client center on our website that offers a place for clients to:

If you have multiple insurance policies, ask us if you can save by bundling your insurance. Some companies offer a discount if you have more than one insurance policy with them. To learn more about condo insurance policies, contact us today or request a quote.

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