Condo Insurance: Protect your unit and everything in it

Condo Insurance in Lafayette and West Lafayette

Condos and townhomes are a popular choice in Greater Lafayette for young professionals, empty nesters, Purdue faculty and staff, and investors. When you own a condo, your homeowners association usually carries a master policy on the building, but that policy rarely covers everything. A condo policy, often called an HO-6, fills in the gaps so you’re protected inside your own walls.

What condo insurance covers

• Your unit – interior walls, floors, ceilings, cabinets, fixtures and upgrades, depending on what your association’s master policy covers
• Personal property – furniture, electronics, clothes and other belongings
• Personal liability – if someone is hurt in your unit or you accidentally damage a neighbor’s unit
• Loss of use – extra living costs if a covered loss forces you out during repairs
• Loss assessment – your share of a special assessment the association charges owners after a covered loss

Know your association’s master policy

Master policies vary. Some cover only the building’s structure and common areas, often called “bare walls” coverage. Others also cover original fixtures inside each unit, often called “all-in” coverage. The type of master policy, and the association’s deductible, decide how much coverage you need on your own policy. Bring us a copy of your association’s insurance requirements or bylaws, and we’ll set your coverage to match so you aren’t paying for too much or left with too little.

Water damage and other common condo claims

In a building with shared walls, a leak in one unit can quickly become a problem for several. Water from a burst pipe, an overflowing tub or a failed water heater is one of the most common condo claims. Ask us about water backup coverage, which is often excluded unless you add it, and about raising your liability limits or adding an umbrella policy.

Renting out your condo?

If you rent your condo to a tenant, your coverage needs change. Let us know so we can adjust your policy. See our landlord insurance page, and encourage your tenant to carry renters insurance.

Condo insurance FAQs

Is condo insurance required?

Many mortgage lenders and associations require it. Even when it isn’t required, your association’s policy won’t cover your belongings or your personal liability.

Can I bundle condo and auto insurance?

Yes. Many companies offer a multi-policy discount when you insure your condo and your car together. As an independent agency, we compare several companies to find the best combination.

Do I need condo or homeowners insurance for a townhome?

It depends on what you own and how your association is set up. If you own the whole structure and the land, a homeowners policy may be the right fit. We’ll review your documents and tell you which applies.

How do I get a quote?

Call or text 765-474-2300 or click Quick Quote at the top of this page.