Intro to Condo Insurance
Condo owners face a unique insurance situation because condo insurance is generally provided by two sources – the condo unit owner (you) and the condominium association. Some condo associations insure the walls, floor and ceiling only. It’s usually up to you to get condo insurance for everything else.
Some condo associations may also cover things like cabinetry, carpeting and countertops. But if you improve or upgrade what was originally in the unit, then it may fall on you to insure those items.
We want you to feel comfortable you've got great protection. Condo insurance from COUNTRY Financial provides coverage for: your belongings, any additions, alterations or improvements you’re required to insure, and your liability risks.
Belongings and Improvements
You can choose from two coverage levels for your possessions and any improvements you make that you’re required to insure:
Coverage for specific risks listed in your policy.
Specific coverages will be listed in your policy for things like:
- Fire or lightning
- Theft or vandalism
- Wind or hail
- Freezing of plumbing
Our best coverage.1
In addition to what the basic policy includes, you’ll also have protection for accidents like:
- Countertop burns
- Paint spillage
- Power surge damage to appliances
You can also choose from the following claim settlement types for your personal property:
Actual Cash Value
Coverage for your belongings at the cost to repair or replace the damaged property, minus depreciation.
Coverage for the cost to repair or replace your belongings. So if you have a 10-year-old refrigerator you need to replace because of a covered loss, we’ll pay you for a comparable model today, minus your deductible.
Liability and Medical
Liability coverage is automatically included with your condo insurance and helps protect you if someone is injured on your property, you're responsible for damages to someone else's property, or you're sued for those injuries or damages and have legal defense costs.
- Choose liability limits up to $1 million
- Add optional liability coverages (for in-home businesses, recreational motor vehicles, watercraft, rental dwellings, etc.) for an additional cost
- Add a personal umbrella liability insurance policy if you need more than $1 million in coverage
Medical payments coverage can provide coverage for others’ medical costs if they’re injured on your property. You can choose up to $25,000 in coverage.
Save money with our Multi-Policy Discount when you purchase condo insurance plus one or more of our qualifying policies, products or accounts. The more policies you have, the more you can save!
(Availability and amount of discount vary by state.)
More Coverage Options
You may need special coverage that our base policy doesn’t have. We offer extra choices at an added cost to customize your condo insurance coverage.
Coverage for high value items
Some of your belongings are only insured up to specific limits. Some examples:
- Jewelry, watches and furs: $2500 ($1500 in GA)
- Silverware, goldware and pewterware: $2500
- Money and other currency: $200
- Firearms: $2500
- Watercraft (like boats, jet skis and trailers): $1500
- Recreational motor vehicles (like ATVs and 4-wheelers): $500
If you have high value items you have questions about, talk to your representative about insuring them separately. It’s usually very affordable, and you’ll have peace of mind knowing you’re protected.
Coverage for additional risks
The following risks aren’t included with the base condo insurance policy coverage, but you can buy extra coverage for:
- Identity theft
- Earthquake damage
- Sump pump failure and/or back-up of sewer or drain
- Mine subsidence (for damage caused by underground mine collapse)1
- Loss assessments from a condo association2
Condo insurance doesn’t cover flood damage, and flood insurance is generally only available through the National Flood Insurance Program. We can help get you covered through the federal program if your condo qualifies.3
For product and service information, read our Terms & Conditions.
Alabama residents: Review the Alabama Bill of Rights for additional information.
1 Not available in all states.
2 Loss assessments are included in the base policy in some states.
3Flood insurance policies are offered through CC Services, Inc., from various third-party carriers not affiliated with COUNTRY Financial®, in accordance with the National Flood Insurance Program. The issuing carrier is responsible for all claims determination as well as claims paying ability. For more information about CC Services, Inc., read the License and Name Information in our full Terms & Conditions.