Condo Insurance in Houston, TX
While your condo association may insure the building and shared areas, it usually doesn’t cover your belongings or liability. Global Insurance Agency offers condo insurance to fill these gaps.
Who Needs to Get Condo Insurance?
Condo insurance can benefit current owners who want to cover their property and belongings, buyers preparing for closing and residents who require additional coverage beyond what the association’s policy offers. Mortgage lenders in Texas often require condo insurance, and many associations have minimum coverage requirements as well.
What Does It Cover?
Condo insurance, also known as an HO-6 policy, can include several coverages:
- Personal property coverage may cover your belongings, such as furniture, electronics and clothing, against risks like fire, theft or water damage.
- Liability coverage may apply if you’re responsible for someone else’s injuries or you accidentally cause damage to another party’s property.
- Improvements and upgrades coverage may help cover renovations or upgrades you’ve made to your condo, such as new flooring or custom cabinets.
- Loss assessment coverage may assist if your association assesses you for a portion of the damage to shared areas.
- Additional living expenses coverage can help with temporary living costs if your condo becomes uninhabitable due to a covered loss.
However, some situations may not be covered by your policy, such as:
- Flood damage: Losses from flooding may require separate coverage.
- Earthquake damage: Damage from earthquakes may not be covered under a standard policy.
- Wear and tear: Issues from normal aging or maintenance can be excluded.
- Pest infestations: Damage caused by insects or rodents may not be covered.
- High-value items: The value of jewelry or collectibles can often exceed a standard policy’s personal property coverage limits.
How Global Insurance Agency Can Help
Our team can review your policy and tailor coverage to meet your needs and budget. Contact us today to get a free quote.