Condo Insurance

Condo insurance is essential whether you rent, lease, or own a condominium. If you live in New Jersey or Pennsylvania, Tadas Insurance Group can help. Here's what you need to know about condominium insurance in these states.

Condo Insurance in New Jersey

Like homeowners' insurance policies, condo insurance in New Jersey protects you from a variety of damages. The standard coverage options for this state include:

Dwelling Coverage

Dwelling coverage includes your unit's basic structure and other permanent properties not covered by the Homeowners' Association (HOA) master insurance policy.

Personal Property Coverage

Personal property coverage handles the expense of replacing your private belongings, including electronics, furniture, clothing, and kitchen appliances. These personal items are covered if fires and other natural mishaps damage them out of your control.

Personal Liability Coverage

Personal liability coverage handles the expenses if you are held legally responsible for someone being hurt in your home. With this liability coverage, you are protected from expensive claims and lawsuits.

Loss of Use Coverage

Loss of use coverage in a New Jersey condo insurance policy covers any additional expenses, such as meals and hotel fees, that you pay due to your condo becoming inhabitable. This type of coverage handles unit inability due to natural causes, such as fires and other natural instances.

In Pennsylvania, all the condominium coverage options that are available in New Jersey are also available in Pennsylvania, except for loss assessment coverage.

Loss Assessment Coverage

Loss assessment coverage is a unique coverage option for condominium owners and HOA Associations. This condo insurance handles certain kinds of loss, such as massive damage to buildings that are not covered by the HOA's insurance policy or a situation involving a lawsuit and a subsequent judgment that exceeds the current liability coverage provided by the association or condo insurance policy.

Here at Tadas Insurance Group, we are here to help you with your condominium insurance needs. Contact us today for your free, no-obligation quote! We want the best for you and your family.