Condo Owner's Insurance

Although condos are covered by a master condo policy, problems can still occur which the master condo policy won't cover.

Some reasons to buy condo owners insurance include:

* Coverage is excluded from your master policy under your condo association by-laws. Examples of exclusions are: deductibles of up to $10,000 for losses to a particular unit; coverage for interior walls or flooring; wall coverings or interior changes to cabinets or light fixtures.
* Protection for your personal property (clothes, furniture, books, electronic equipment, etc.) against such perils as fire, theft, and vandalism both at home and while you are away.
* Through riders, provide broader coverage for jewelry, art work, business property, and other valuables. Riders could cover the loss of a diamond out of its setting, or the theft of expensive golf equipment away from home.
* Reimbursement for living expenses elsewhere when a covered peril such as a fire or wind damage make your condo uninhabitable.