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Condo Insurance

Encore Insurance provides property and personal liability coverage to protect your investment. Save money when you shop for condo insurance with us.

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Whether it’s a fire, a theft, or an accident that a guest sustains in your home, you’ll have peace of mind knowing that you have the coverage you need at a price you can afford. 

Encore Insurance Group makes it easy to find the best condo insurance Michigan has to offer. We compare available quotes side-by-side, so you’ll be able to get coverage that’s ideal for your needs.

Why All Condo Owners Need Condo Insurance

Specific insurance needs can vary depending on your condominium development, but most condo associations require that the owner of each unit carry an independent insurance policy in their bylaws.

Even if you’re not explicitly required to have a condo insurance policy, it’s highly recommended that you have protection. The reason is that condo associations may avoid extending their own insurance policies to your unit or your personal property. Instead, the association’s coverage is typically limited to two categories:

  1. The overall building structure(s)
  2. Common areas

Therefore, if something happens to your unit, your belongings, or a guest is injured inside your four walls, you’ll need condo insurance to protect you from financial losses and liability.

Losses that Condo Insurance Covers

As a general rule, most condo insurance policies cover losses to your property due to fire, theft, and other incidents. They also protect you from having to pay out of pocket if a guest has an accident in your home.

Personal Property

Having coverage for your personal belongings can help save you the massive expense of replacing everything you’ve acquired throughout your lifetime out of your own pocket.

With condo insurance, you can opt for coverage that reimburses you for either the replacement cost or the cash value of your items.

Dwelling Coverage

Your condo association most likely has coverage for the exterior of your building, but that protection doesn’t extend to interior parts of your home such as floors, walls, cabinets, doors, sinks, toilets, and upgrades.

However, keep in mind that every condominium association defines what constitutes interior and exterior areas differently, so you’ll want to check your bylaws as you determine how much coverage you need.  

Loss Assessment

Even though your association will have its own coverage for common areas and the structure of the building, if a catastrophic event happens, each condominium owner may be on the hook if the damages extend beyond the association’s coverage.

Most policies have a minimum loss assessment built in, and we can help you determine whether it makes financial sense to add additional loss assessment to your policy.

Personal Liability

Many new homeowners are surprised to find out that if a guest slips, falls, or is otherwise injured on your property, you can be held financially liable for their medical expenses and other damages.

The good news is that condo insurance covers these incidents allowing you to entertain guests without worrying about someone getting hurt. Even if the incident is your fault, your insurance will handle the payments up to your policy limit.

Limits to Condominium Insurance Coverage

Though not universal, most condo insurance policies avoid coverage for the following:

  • Natural causes such as floods, earthquakes, insects, rodents, and domestic animals
  • Professional services for condo owners operating a business in their home
  • Vehicles (including recreational vehicles)
  • Some luxury items such as fine art and jewelry

If you need coverage that extends beyond what’s part of a standard policy, you can get additional coverage.

Get Condo Insurance Coverage that Fits Your Needs

Encore Insurance Group is headquartered in Michigan, making us uniquely qualified to help Michigan homeowners with all of their insurance needs. We’ve partnered with insurance companies across the state and have more than 10 years of experience delighting our customers. 

Contact us to discuss your coverage options with a condo insurance agent at (248) 466-0200 or contact us online.