Condominium Insurance in Kent, OH

Most condominium owners understand that the condo association typically insures the building and common areas. However, this policy doesn’t cover your personal belongings in case of theft, fire, storm damage or other risks. For these situations, you’ll need a personal condo insurance policy, known as HO-6 insurance.

At Advantage Insurance Agency, we have extensive experience with condo insurance and can help you understand the different types of coverage available to help ensure you’re fully protected.

What Is Condo Insurance?

Condo insurance is a type of home insurance that can cover your personal items in case they are stolen or destroyed. It may also help cover the cost of repairing your condo unit in case of a disaster and provide liability protection if someone is hurt on your property.

Common coverages include the following:

• Dwelling coverage may help cover the interior of your condo, including walls, flooring and built-in features.
• Personal property coverage may help cover personal possessions, such as electronics, clothing and furniture, up to policy limits. For expensive items, such as jewelry, consider enhanced coverage that can provide higher limits for these belongings.
• Personal liability coverage may help provide financial protection if someone is accidentally injured on your property or if you damage someone else’s property and they sue you.
• Additional living expenses coverage may help cover necessary and reasonable expenses if you’re forced to leave your home following a covered loss.

What Is the Difference Between HO-3 and HO-6 Insurance?

Condominium insurance, also known as HO-6 insurance, differs from traditional homeowners insurance policies, often referred to as HO-3. While HO-3 policies may help cover your home’s structure, contents, liability, medical payments and additional living expenses, HO-6 insurance is tailored to cover what your condo association’s master policy may not (i.e., your personal space rather than shared areas).

HO-6 insurance may protect your personal belongings in case of damage or theft and help cover repairs to the condo unit’s walls, floors and ceilings. Depending on your policy, this may also include renovations made after your purchase. Additionally, it may help provide liability coverage and living expenses, which can help if you need to relocate temporarily due to a covered event.

How Much Condo Insurance Do I Need?

The amount of condominium insurance required varies based on factors like the type of master insurance policy your HOA has, whether you have a mortgage and other personal variables. If you reside in Kent, Ravenna, Streetsboro or neighboring Ohio communities, Advantage Insurance Agency can assist you in finding the best options tailored to your condominium. Contact us today for guidance.