Your condo could be home or home away from home at the beach. Whether you have a condo in Ocean City, Maryland or Bethany or Rehoboth Beach, Delaware, you want to make sure you have Condo Insurance to cover and protect all your property and belongings.
What’s the difference between condo and home insurance?
It all comes down to how much your policy needs to protect. For a home, your coverage should include both the inside and outside of the property. When you own a condo, you are only responsible for the interior of the unit and your personal property.
Condo association fees may cover some of your insurance needs, including protection for the outside of your building and common areas. What it doesn’t cover is what’s inside your unit which is why you need condo insurance coverage to help protect against losses and repair costs. It often provides protection for theft, vandalism, and fire and water damage.
Staples & Associates wants to protect everything that’s important to you at home and at the shore!
This insurance helps protect the structure, built-in appliances and wall-to-wall carpet of your condo from damage.
Other structures coverage
This option covers property not attached to your condo. This can include a detached garage or a gazebo.
This protection helps cover your furniture, clothing, and other items in your home from fire, smoke, wind and theft as defined by your policy.
This insurance consists of two parts: bodily injury and property damage. If an accident occurs in your condo that damages someone or something, personal liability can help pay for the damages.
Personal umbrella liability insurance
A personal umbrella policy offers an extra layer of protection for your assets. This includes bodily injury, property damage, and personal injury to others for which you are held liable.
Medical payments to others
This condo coverage may help pay for medical or funeral expenses of someone who is injured on your property.
Loss of use insurance
This insurance may help pay for an increase in living expenses if you are unable to live in the home after a covered loss.
Ordinance or law insurance
This insurance may help pay to rebuild your condo to current building codes after a covered loss.
This option protects your condo and its contents from flood damages. It is a separate policy that can be purchased through the National Flood Insurance Program.
This insurance provides additional coverage due to earthquake damage. A separate deductible applies.
Scheduled personal property
This insurance provides additional coverage for high value items such as jewelry, watches, antiques, and fine art.
Extended replacement cost on contents
This condo insurance coverage may help pay to replace or repair personal property without depreciation being taken from the value of the property.
Water backup of sewer
This boradens the coverage for loss due to water backup through sewers or drains.
Replacement cost plus
This coverage can pay up to an additional 20% of your home coverage limit if there is a total loss of your home and additional money is needed to rebuild.
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