Condo Insurance in Texas

Why You Need Condo Insurance in Texas

If you own a condominium in San Antonio, TX, your master association will have insurance to cover the building, but you will need your own individual coverage. The condo association takes some of the insurance burdens off you but not all of it. The association's insurance will usually cover building exteriors and the common areas but likely won’t cover what is inside the specific unit.

What Does Condo Insurance Cover in Texas?

When you are looking to get condo insurance in San Antonio, TX, be sure to review your condo association policy first. This can give you an idea of what level of protection your condo association offers. Some condo policies will be all in and all-inclusive. This will protect the exterior and interior surfaces, including fixtures, and the condo owner is only responsible for personal belongings. Bare walls policies will include the bare structure and the condo owner will also need to cover fixtures and personal property. If you need help understanding what your association policy covers and what insurance coverage you need, an agent at Ellis Insurance Agency can help.

Your individual policy will cover damages within the unit and personal belongings from covered perils such as fire, theft, vandalism, and smoke damage. Just like homeowner’s insurance, condo insurance doesn’t cover you from flood damage. It will also cover your liability. This protects you in case someone is injured at your condo. Be sure to select a liability limit that is enough to protect your assets. Be sure your individual policy covers items such as floors, cabinets, carpets, light fixtures, inner walls, and countertops if your condo association policy doesn’t. You will want to keep track of your belongings and consider what it would cost to replace them in today’s dollars, so you get enough coverage. There will be certain limits on valuable belongings, such as jewelry.

Contact Ellis Insurance Agency to get a quote on condo insurance.