Need more info on what condo insurance covers? Find coverage specifics here.
Coverage options
Does condo insurance also protect my stuff?
Yes! Your condo insurance policy through Esurance includes personal property protection that travels with you. So whether you lost your underwater camera on a diving expedition in the Bahamas or were burglarized, your things will be covered up to the limit you choose. Condo insurance through Esurance also offers full value personal property protection standard on every policy, which means that you'll be paid the full replacement cost (minus the deductible) if something should happen to the cool stuff you own.
And guess what? While staying in your home, your guest's belongings will also be protected from damage and theft.
Does condo insurance cover floods and earthquakes?
No. Condo insurance, like home and renters insurance, does not cover floods and earthquakes. Condo insurance through Esurance provides protection against:
- Fire or lightning
- Windstorm or hail
- Explosion
- Riot or civil commotion
- Aircraft
- Impact from vehicles
- Smoke
- Vandalism
- Theft
- Falling objects
- Weight of ice, snow, or sleet
- Collapse of a building or any part of a building
- Accidental discharge or overflow of water or steam
- Sudden and accidental tearing apart, cracking, burning or bulging of a steam or hot-water heating system; an air-conditioning or automatic fire-protective sprinkler system; or an appliance for heating water
- Freezing of a plumbing, heating, air-conditioning, or automatic fire protective sprinkler system, or of a household appliance
- Breakage of glass
If you live in a flood zone, we recommend purchasing additional flood insurance. And if you live in an earthquake-prone area and would like to protect yourself from the next Big One, consider adding earthquake coverage to your policy by speaking with an agent.
Does my condo insurance policy cover my pet?
No, condo insurance through Esurance does not provide coverage for your pet. If you own a precious Fido or Fluffy and would like to make sure that your furry pal is taken care of, consider pet insurance.
I have a dog. Will this affect my coverage?
In most cases, no. However, if your dog has a history of biting to the point of breaking skin or is of a certain breed (Akita, chow chow, Doberman, pit bull, Staffordshire bull terrier, Rottweiler, Presa Canarios, wolf hybrid, or a mix of these) you will not be able to get condo insurance through Esurance due to increased liability risks.
I can't live in my home due to damage. Will my relocation expenses be covered? For how long?
If your home is uninhabitable due to a covered loss, your condo insurance policy can provide additional living expenses (any expense that exceeds your normal standard of living) or fair rental value so you can maintain your quality of life. Examples of additional living expenses include:
- Hotel or rental charges
- Food and utility expenses
- Additional car mileage
Loss-of-use coverage comes standard on every condo insurance policy. And, best of all, there's no coverage limit, no deductible, and you'll be covered for up to 24 months.
I was injured while in my condo. Will my insurance pay for medical expenses?
Yes, the great thing about condo insurance is that it'll cover your medical expenses if you suffered bodily injury while in your home. The limits for medical payments begin at $1,000 and go up to $10,000. If you have health insurance, medical payments coverage won't typically take effect till after your health insurance limits have been reached.
Does condo insurance cover alterations, appliances, and other fixtures in my condo?
Yes, in addition to protecting your personal property from damage or loss, condo insurance also offers increased condo building items coverage which protects the interior structures that you own.
Will my condo insurance policy also cover my roommate?
Unless your roommate is a member of your family or listed as a co-applicant on your insurance policy, your roommate will not be covered by your policy. If you want to include your roommate on your policy, you'll be able to do that when you get your condo insurance quote.
Upgrading your coverage
Can I add another person to my condo insurance policy?
Yes. When you buy your condo insurance policy online, you'll have the opportunity to add another co-applicant whether that applicant is your spouse, domestic partner, child, or friend.
What extra coverage can I add to my policy?
In addition to the standard liability, personal property, loss assessment, and loss-of-use coverages, you can add identity theft coverage and additional riders to protect your more valuable belongings (jewelry, fine art, silverware, etc.).
Identity theft coverage will pay up to $25,000 in qualifying expenses to restore your identity and provide a case manager who will do the legwork. And if you own rare antiques, fine art, or other pricey valuables, you might want to consider adding scheduled personal property coverage.
I've just remodeled my condo. Should I update my coverage?
If your HOA's master policy does not provide all-in coverage, or if it doesn't provide coverage on improvements, you should consider upping the limits of your increased condo building items coverage to protect your investment.
Increased condo building items coverage protects the interior structural components of your unit. Think additions, alterations, appliances, fixtures, flooring, cabinetry, etc. In general, your condo insurance policy will include this coverage without any extra cost.
Generally, your limit on this coverage is 10 percent of your personal property limit. So if you have a limit of $30,000 on your personal property, your interior structures will be covered for $3,000 in case something should happen to your new flooring or upgraded countertops. However, if this amount seems inadequate, you can increase the coverage limit up to 50 percent of your personal property limit. It doesn't cost much to increase this limit, and the added protection will be invaluable in case something occurs.
Coverage definitions
What's the difference between replacement cost value and actual cash value?
Replacement cost value will pay to replace damaged property at its current value — without factoring in depreciation. For instance, if your HP laptop was stolen, replacement cost value will help pay for another HP laptop with the same specs at today's current price. Actual cash value, on the other hand, will factor in depreciation due to wear and tear and obsolescence, so you may pay a little more out of pocket to get the same HP laptop at today's value.
Full-value personal property protection comes standard on every condo insurance policy purchased through Esurance. Get a condo insurance quote and see how you can fully protect your belongings for just a few dollars a month.
What is loss assessment coverage?
This coverage is unique to condo insurance policies. If your condo association suffered major property or liability loss in the condo's common area and its master policy can't fully cover the cost, your HOA can legally make each unit owner pay a portion of the expenses.
For example, if a windstorm destroys the common area in your condo complex, and your HOA's master policy has an incredibly high deductible and a low coverage limit, you might be responsible for paying some of the cost. This is where loss assessment coverage comes in.
Through Esurance, loss assessment coverage of $1,000 comes standard with a $250 deductible. However, you can select higher limits (up to $51,000) if you choose, and the added cost for selecting the highest limit is minimal.
What is scheduled property coverage?
While it's true that condo insurance can cover your personal property anywhere in the world, some items have specific limits. For example, jewelry is only covered up to $3,000 with a limit of $1,500 per item. So if you lost your bling on a trip to Paris, and its value exceeds $3,000, you won't be able to recover the full value unless you have scheduled property coverage.
Scheduled property coverage will protect your valuables against physical loss up to their actual cash value, and you can add this coverage when you get your free condo quote.
What are my deductibles?
Condo insurance through Esurance lets you choose your all-perils deductible ($500, $700, or $1,000). If you choose a higher deductible, your rates will be lower — though not by much since condo insurance is already affordable — but you'll have to pay more out of pocket in the event of loss or damage.
What is my personal liability limit?
Your personal liability limit begins with a minimum of $100,000. If you'd like more protection, you can increase your limit to $300,000 or $500,000.