Townsend Agency (512) 931-2591 Georgetown
(806) 698-1611 Lubbock
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Condo Insurance

What About Condominium Insurance?

If you live in a condo, there are likely valuable belongings that you’d like to keep safeguarded from loss. Keep in mind that your HOA or condominium association carries an insurance policy, but it is not designed to protect individual unit owners specifically since it normally is limited to covering damage or loss that effect the external aspects of the condominium complex, such as the actual structure, common fixtures and appliances, rooftops, and shared areas, like patios, decks, pools, gyms, etc. Such a policy will not cover any loss that happen within a person’s own condo home. This is exactly what good condo insurance is made for.

Coverage Details

A good condo insurance policy will protect everything inside the walls of the unit, including personal belongings like wardrobe, computers, appliances, furniture and more. Note that especially expensive items such as art, coin collections and jewelry may not be fully covered this policy so you will have to talk with an insurance professional to determine what kind of policy configuration will work best for your individual situation. (Buying extra coverage will often take care of any and all concerns of this nature.) A condo plan can also cover damage that occurs inside your condo that is a result of natural disasters such as extreme thunderstorms, hurricanes and tornadoes, earthquakes, and so on. The HOA policy may provide coverage from damage from natural disasters to electrical and plumbing inside your condo but, again, it is highly advised that you inquire to see what your condo association plan actually covers.

How Much Coverage?

The level of coverage you require will normally be determined by value of your belongings. It is important to make an inventory of personal items, perhaps even photograph them, and then assign a value to it all. (The value of your personal items can be generally determined by the current replacement costs for said items- A little bit of Internet searching can be very helpful for this.) Keep in mind that the provider will likely have per-item monetary limits for potential future claims. For example, a per-item limit for fixtures might be a thousand dollars, while antiques may be designated at another couple thousand dollars. It is vital to be informed and know the limits made available. If you have expensive items, opt for maximum coverage to enjoy the peace of mind you deserve.


Working with an insurance agent can make the process so much easier when you’re contemplating condo insurance coverage. Such professionals can help you to find the best protection at a cost you can afford. They will also help you in finding the right kind of coverage for your specific needs.