Investing in the right insurance policies as a homeowner or condo owner is essential. At Ellis Insurance Agency serving San Antonio, TX, we’ll work with you to determine which type of umbrella or traditional condo insurance policies are right for you. If you want to enhance your existing coverage, it may be time to consider an umbrella policy that suits your needs.
Can Umbrella Insurance Cover Condos?
Yes! An umbrella insurance policy is a personal liability policy that provides additional coverage once the standard limits of your underlying insurance policy are reached and/or exceeded. If you have a traditional condo, or HO-6 policy in place, there is a limit to what can be covered (based on your premiums and the type of policy you have in place). While umbrella insurance doesn’t replace condo insurance, it can significantly expand your financial safety net when you need it most.
What Umbrella Insurance Does Not Cover
Umbrella insurance does not cover:
- Damage to your condo unit or personal property (as this is covered with standard condo insurance)
- Replacement for your condo’s master policy
- Intentional acts to cause damage
Whether you’re considering investing in your first condo or have owned one for many years, umbrella insurance policies can contribute to your financial security. Understanding the benefits and advantages of personal umbrella insurance as a condo owner helps to protect your condo and auto liability exposure. When one policy’s limits are reached, your personal umbrella policy takes over to maintain the liability protection.
Call us for a quote
If you’re interested in learning about how umbrella insurance works in San Antonio, TX, we can help. Contact Ellis Insurance Agency for your consultation and quote.
