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Condominium Insurance

Services for Real Estate Pros with Allstate


Condominiums are great homes for the young, seniors, empty nester's and anyone else who is not interested in the yard work of a single family home.  However, one aspect that commonly is overlooked is adequate insurance to protect your dwelling and personal property.

Condo associations typically maintain fire insurance to protect the exterior of the structure in the event of a tragedy.  That means that typically the association insurance coverage will rebuild the exterior walls and roof but not cover from the "studs in".  This is usually the responsibility of the condo owner and unfortunately, many condo owner's are unaware of this responsibility. 

Condo owner's should think about insuring their dwellings for about 50% of the purchase price to feel confident that they will be able to rebuild form the"studs in".  This includes drywall, flooring and kitchen appliances and cabinets and labor.

Condo coverage generally focuses on personal property and that is important as well. Insurance agents can help your customers by estimating coverage based on number of rooms and quality features of the furniture. 

Provide your customers with your value-added expertise about the condo associations current coverage and how that may impact the personal coverage that the owner will need.