Is the interior of a condo covered by my condo insurance?

Part of your condo fee goes towards your master insurance (similar to homeowner’s insurance and in 95%+ of the cases it covers the unit and the building, but it doesn’t cover the improvements inside the condo such as wood, tile, personal items, appliances, etc).

You will still want to obtain an additional insurance policy that covers personal content (furniture, clothing) as well as accident liability.  This additional insurance policy is normally referred to as a Condo Owner’s Policy.

We consider it to be very similar to renters insurance, which is typically between $15.00 and $30.00 per month, depending on your unit and level of coverage. As always, we are not insurance salesman or attorneys, so ask your trusted professional if you have specific questions.

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