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A Condominium’s Master Insurance Policy typically provides coverage only for damage done to the building structure and its common elements. Depending on the Insurance provision of your Condo Trust document, the inside of your condo unit, including your kitchen cabinets, fixtures, ceilings, walls, and finished floors may not be covered by the Condo Master Policy. Thus the coverage needs for a condo unit can be different. We have lots of experience insuring condos and can help you determine the right insurance coverage for your unit.

“Our number one goal at Kiley & O’Toole is to have a long-term relationship with our customers. For me the way to achieving this goal is quite simple…focus on our customers’ needs and strive to provide them with valuable insurance knowledge, great customer service, and competitive pricing.”   Tom O’Toole, President-Founder

Determining the Right Condo Insurance Coverage

Knowing the Replacement Cost of the building parts of your condo unit not covered by a Master Policy and the value of your personal property inside your condo is most important in determining the amount of coverage that is right for your home. Rest assured, at no cost to you our insurance consultants will take the time to complete a professional Replacement Cost Estimate.

A Condo Insurance policy provides coverage for personal property, but there are special, low limits on certain personal items, such as jewelry, art and fine rugs and furniture. For these special items we can provide you with coverage pricing and help you determine whether it is worth paying the extra premium.

In addition to insuring the permanent fixtures and building parts inside your unit, your own Condo Policy includes these valuable insurance protections:

• Personal Property– insurance coverage, including theft, for furniture, electronics, and other personal possessions. Replacement Cost and Valuable Items coverages available.
• Personal Liability- covers in case you get sued for accidental bodily injury or property damage while in your condo or caused by your personal activities or your children or pets.
• Additional Living Expenses- if you have to move from your unit due to damage this coverage can pay for your necessary living expenses, such as hotel, meals, laundry, etc.

Loss Assessment- if the common structure incurs damage and as a result the condo association forces an assessment on unit owners to pay for any shortage not covered by their insurance, this coverage will cover you up to $1,000, or more if the policy is endorsed to increase the limit.

Condo Insurance Discounts Available:

Discounts vary by insurance company

Account Discount — Up to a 20% discount for Homeowners insurance when the same insurance company provides auto coverage for at least one vehicle.

Protective Device Credit — Up to a 20% discount if you have a security system installed in your home. Note: discounts vary depending on the type of security system you have.

Loss Free Credit — Up to a 10% credit if, for at least 3 years, you have been loss free.

New Home Credit — A discount on your new home (savings based on year home built).

Homebuyer Credit — A homeowners insurance discount on your newly purchased home (savings based on year home purchased).