Condo Insurance in Terre Haute and the Wabash Valley

Coverage for What the Association Policy May Not Protect

A condominium association may insure portions of the building and common property, while the individual unit owner remains responsible for other parts of the unit, personal belongings and liability.

Crapo Insurance Agency helps condo owners in Terre Haute and throughout the Wabash Valley understand those responsibilities and compare available unit-owner insurance options.

Understand the Association's Master Policy

Before selecting condo insurance, review the condominium association's governing documents and master insurance policy.

The master policy can affect what portions of the structure or interior improvements are the unit owner's responsibility to insure.

Interior Property and Improvements

Depending on the association's responsibility and the individual policy, condo insurance may help protect:

• interior improvements;
• fixtures;
• appliances;
• flooring;
• walls or finishes;
• other property for which the unit owner is responsible.

Personal Property

Condo insurance can also provide protection for clothing, furniture, electronics and other personal belongings, subject to the policy's terms and limits.

Personal Liability

Unit-owner policies typically include personal-liability protection for certain covered bodily-injury or property-damage claims.

Loss Assessment Coverage

Depending on the policy, loss-assessment coverage may provide protection for certain assessments charged to unit owners following covered losses involving association property or liability.

Limits and covered circumstances vary, so this coverage should be reviewed rather than assumed.

Review Coverage When Association Rules Change

It can be useful to review your condo policy when:

• the association changes its master policy;
• deductibles change;
• you renovate the unit;
• you purchase valuable property;
• association responsibilities change.

Talk With a Local Independent Agent

If you own a condominium in Terre Haute or the surrounding Wabash Valley, Crapo Insurance Agency can help you review available condo insurance options.