Condo Insurance
Coverage for your condo beyond what your association protects.
Owning a condo can come with fewer maintenance responsibilities than owning a traditional home, but that doesn’t mean everything inside your unit is covered by your condominium association.
Based in Albuquerque, Western Assurance Associates serves clients throughout New Mexico, Texas, Colorado, and Arizona. Our team can help you understand where your association’s insurance ends and your own coverage begins, and explore coverage options that fit your unit, belongings, and individual needs.
What can condo insurance help protect?
Condo insurance, often called an HO-6 policy, is designed to protect the parts of condo ownership that may not be covered by your association’s master policy. Your exact protection will depend on the policy, limits, deductibles, and coverage options you choose.
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Helps cover certain interior features, finishes, and improvements you’re responsible for after a covered loss.
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Helps protect furniture, clothing, electronics, and other personal property inside your condo.
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Helps protect you if you’re legally responsible for certain injuries to another person or damage to someone else’s property.
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Depending on the policy, coverage may be available for certain assessments charged by your condo association after a covered loss.
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Helps with certain extra living costs if a covered loss temporarily makes your condo uninhabitable.
What does your condo association cover?
Your association’s master policy usually protects certain parts of the building and common areas.
The amount of protection can vary considerably from one association to another, which can affect what you’re responsible for insuring inside your own unit.
We can help you review how the two policies work together.
Where does your own policy begin?
Your condo policy is designed to help fill the gaps between what the association covers and what you’re responsible for.
That can include your belongings, certain interior features, upgrades, personal liability, and other coverage depending on your policy.
Understanding that dividing line is one of the most important parts of insuring a condo.
What about upgrades or improvements?
If you’ve upgraded flooring, cabinetry, countertops, fixtures, or other features inside your unit, those improvements may affect the amount of coverage you need.
Your association’s policy may not fully account for improvements you’ve made yourself.
We’ll help you consider what should be reflected in your coverage.
Your condo. Your coverage.
Guidance that brings it together.
Condo insurance works best when your own policy and your association’s coverage are considered together.
At Western Assurance Associates, we’ll take the time to understand your unit, review your options, and help you explore coverage that fits your responsibilities as a condo owner.