Get DirectionsMost condo owners in the Avon Lake, OH, area consider condo insurance essential. Condos present a unique situation because you own only a portion of a building instead of the entire building. Many people wonder if their condo insurance will cover structural damage, such as a damaged roof.
Condo Insurance Coverage
Most condo insurance policies do not cover structural damage to main areas, including the roof, or common areas, such as a community pool everyone in the building can use. Instead, insurance typically covers the interior of a condo. This may include:
- Damage to walls and floors
- Personal belongings
- Damage to cabinets
- Appliances, such as the fridge, stove, and dishwasher
It’s important to remember that policies often vary. Always speak with a professional agent at Meiners Insurance to determine what your policy covers.
Who Covers Roof Damage?
If your insurance policy doesn’t cover roof damage, who’s responsible for structural damage? Typically, a condo involves a condo association or homeowners’ association. This association usually has one policy covering structural components and possibly common areas.
Shared Expenses
The condo association’s master policy will have the same limitations as every homeowner’s insurance policy. For example, policies may exclude flood damage if there is no flood insurance. Some policies won’t cover common areas inside buildings, such as a shared gym area.
In these situations, many condo associations expect condo owners to contribute. They’ll often assess the total cost and ask everyone to pay an equal amount to cover the repairs. This usually makes owning a condo more affordable than a house because the expenses are shared.
We understand condo insurance differs from homeowners’ insurance in several ways. Professional representatives at Meiners Insurance can help you understand what’s covered under your policy. Contact us today to discuss more about condo ownership. We currently serve the Avon Lake, OH, area.
