Do I Need Connecticut Homeowners Insurance for My Condo


One of the most important questions you need to ask yourself after you purchase a condo is do I need Connecticut homeowners insurance. You probably will live in a condo community that has what is called a master insurance policy. This policy will require you to pay into it each month along with your condo association dues. It does provide some level of homeowners insurance; however, it will probably not give you the type of Connecticut homeowners insurance that you need.

Connecticut homeowners insurance will offer you extended coverage in the following ways for your condo.


Covers the Interior of Your Condo

The master insurance policy that you will pay for through your condo association dues will generally only cover the building itself and common areas around the community. The interior of your condo will generally not be insured by this master policy.

If you do not purchase a Connecticut homeowners insurance policy for your condo, you could be faced with having to replace the fittings and fixtures of your condo. Without a Connecticut homeowners insurance policy, you would have to pay out of your own pocket to replace the following:


  • Bathtub
  • Carpet
  • Cabinets (kitchen, bathroom, storage, linen)
  • Dry wall
  • Light fittings
  • Stove
  • Toilet


Replacing these after a disaster could become incredibly costly, and may not even be possible.


Offers You Extra Liability Coverage

Most condo master insurance policies will only cover incidences that happen in the common areas of the community. If someone slips and falls inside your condo, most likely you will not have insurance through your condo association to help pay for any medical expenses. This is where Connecticut homeowners insurance can become very helpful.

Liability protection through a Connecticut homeowners insurance policy is relatively cheap and will cover incidences that occur inside your condo that you may be liable for. The medical costs of someone getting hurt inside your condo, such as a fall or bitten by your pet, could be considerable and having to pay it out of your own pocket could quickly put you in dire financial straits.


Can Protect You From Lawsuit

If someone or something in your condo does damage to someone else or to the property of the condo community, you could be sued for damages. A Connecticut homeowners insurance policy can offer you legal help in court as well as pay for any damages awarded. Your condo master policy will generally offer no such help and, in fact, it could be the condo association policy that sues you for damages if you damage common area property.


Protects Your Personal Property

Your personal belongings that are stored in your condo are most likely not covered by your condo association insurance policy. If a fire or flood destroyed your condo, all of your electronics, computer, clothing, jewelry and furniture could be damaged. Without a Connecticut homeowners insurance policy, you would have to find a way to replace your personal belongings without the help of insurance.

With a Connecticut homeowners insurance company, you can generally tailor your limit on personal property coverage to fit the value of your personal property. This allows you to save money by not paying for personal property limits that are much higher than the value of your belongings.


Can Offer You Lose of Use Protection

If a fire or flood forces you to leave your condo for an extended period of time, you have to consider if you can afford to pay for an extended stay in a hotel plus any other costs that may come with such a move. Your master condo policy will generally not pay for loss of use of your condo, but a Connecticut homeowners insurance policy can.


Final Thoughts

You should not purchase Connecticut homeowners insurance for your condo until you first understand the limitations of your condo association master insurance policy. Once you know what is covered and what is not covered by this policy, you can then look for a Connecticut homeowners insurance policy that extends your coverage to the point you need.

By not having to insure the building itself, a Connecticut homeowners insurance policy for a condo will generally be cheaper than what you would pay for a regular home. You can further save money by going online to get Connecticut homeowners insurance quotes for your condo. You can quickly get multiple quotes that you can then compare to see which gives you the proper coverage at the best rate.



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