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5253 E Brown Road, Suite 105
Mesa, AZ 85205

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Arizona Insurance Blog

Does Condo Insurance Cover the Structure?

When you’re buying a condo, you may be required by your Homeowners Association (HOA) to get condo insurance. Even if you aren’t, condo insurance can help you protect yourself from financial liability if a covered event occurs. Condo insurance can pay to repair or replace your property when a range of covered events occur.

The insurance agents at The Morrow Insurance Agency, servicing Mesa, AZ, can answer your questions about condo insurance, including what’s covered and what isn’t. Below, we’ve listed what you need to know about condo insurance.

Understanding Condo Insurance

Condo insurance helps protect against repair costs in a condo. It’s very similar to home insurance, but it’s specifically designed for condo owners.

What Does Condo Insurance Cover?

Condo insurance covers many of the same types of events that homeowner insurance covers, including:

  • Fire
  • Smoke
  • Vandalism
  • Theft
  • Lightning strike
  • Wind
  • Accidental discharge of water

Condo coverage will pay to repair or replace your condo’s interior, such as the walls, floors, and personal belongings.

What Doesn’t Condo Insurance Cover?

Condo insurance doesn’t cover damage from earthquakes and floods, and it doesn’t pay to repair the condo’s structure. In other words, condo insurance will only pay to repair or replace the parts of a condo that would normally belong to the insured.

Is Condo Insurance Required?

Condo insurance may be required by your mortgage lender (if you have one) and is often required by HOAs as well.

The Morrow Insurance Agency, servicing Mesa, AZ, can help! We provide condo insurance to help customers recover after a covered event. Call today to speak with one of our agents to learn more about condo insurance.