Condo Insurance Coverage

Condo Insurance

Living in a condo gives you the luxury of owning your own space without having to worry about building and lawn maintenance. It is a great option for many. However, it’s important to know that even though you aren’t responsible for the building, you should still invest in condo insurance NJ. Here are a few of the things condo insurance covers that are probably not covered by your HOA.

Personal Property

Everything inside your condo (furniture, electronics, clothing, etc.) is your responsibility and needs to be insured by you. In the event of theft, fires or flooding you want the reassurance that your belongings will be replaced. Also, insurance will often cover hotel bills or living expenses in the event of a natural disaster that requires you to temporarily relocate.

Building Property

In some cases, your HOA will not cover the cost of fixing damages done to the condo itself; think light fixtures, walls and flooring. In this case, having insurance that will pay to rehabilitate your home will save you a lot of time and money.


In the event of injury due to building issues, condo insurance NJ will cover the cost of medical bills. On the flip side, if you are sued by a neighbor for any building-related issues, your insurance can cover those costs as well.

Condo insurance is imperative to make sure you are safe and provided for. You shouldn’t have to worry about your home, belongings or bank account in the event of a disaster.