Owning a condo comes with plenty of perks, but understanding your insurance needs can sometimes feel a little confusing. Many condo owners assume their HOA (Homeowners Association) policy covers everything, but that’s not always the case. If you’re wondering what’s covered by your HOA and what requires personal condo insurance, you’re not alone. Let’s break it down.
What Does Your HOA Policy Cover?
HOA insurance typically focuses on shared spaces and the overall structure of the building. For example, it might cover areas like hallways, lobbies, elevators, and the roof. If there’s damage to these common areas, the HOA policy steps in to handle repairs. However, this coverage usually stops at the walls of your unit, leaving the interior and your personal belongings unprotected.
Why You Need Personal Condo Insurance
Personal condo insurance is designed to fill the gaps left by your HOA policy. Here’s what it typically covers:
- Your belongings: Furniture, electronics, clothing, and other personal items inside your unit.
Custom flooring, countertops, or fixtures you’ve added to your condo. Legal costs if someone is injured inside your unit. Temporary living expenses if your condo becomes uninhabitable due to a covered event.
At Southwest Insurance Management Group, we help condo owners in Flower Mound understand their coverage needs. Whether you’re new to condo living or just want to make sure you’re fully protected, we’re here to guide you every step of the way.
Protect What Matters Most
While your HOA policy provides important coverage, it’s not designed to protect everything inside your unit. Personal condo insurance ensures your belongings, upgrades, and liability risks are covered, giving you the confidence to enjoy your home without worry.
If you’re ready to explore your condo insurance options, contact Southwest Insurance Management Group today. Let’s make sure your coverage fits your needs and keeps your home protected.
