Condo insurance

Available endorsements

Just like a homeowners insurance policy, you can easily add coverage to your condo insurance. These endorsements are usually pretty popular:

• Additional loss assessment coverage - While our condo policies automatically include $2,000 in loss assessment coverage, folks like to have a little extra. This helps pay for your portion of a shared loss – called a special assessment – that exceeds the condo association’s emergency funds.

• Flood insurance - We’re one of the few insurance companies that offers private flood insurance as an endorsement, which means you don’t have to manage a separate policy, premium, or deductible to protect your home from flood damage.

• Animal Liability Insurance - This extends your personal liability coverage to cover damage your fluffy friends may cause. So if your dear bumbling Pomeranian accidentally trips your neighbor, this can help pay for their injury.

What your condo association’s master insurance policy covers

Your HOA fees help pay for a master insurance policy that covers your building’s exterior. It essentially splits the dwelling insurance burden with you, which is why your dwelling limits are much lower than what you paid for your unit.

There are three types of condo master insurance policies:

• Bare Walls Coverage - This is a bare bones master policy. It only covers the building (its exterior, roofing, framing, wiring, insulation, and drywall) and common areas.

• Single Entity Coverage - This covers everything a bare walls policy does, but it also covers built-in fixtures in individual units.

• All-in Coverage - Of the three policies, this one offers the most protection. It covers the structure, common areas, built-in fixtures, plus individual unit additions and improvements.

Condo insurance vs.
homeowners insurance?

Unlike homeowners insurance, which must cover the entire structure of the home inside and out, condo insurance only needs to cover the interior of the home because it has help from the HOA’s master policy.

That usually means condo insurance is much less expensive than homeowners insurance.

Condo insurance and homeowners insurance also differ on personal liability. As a condo owner, your personal liability exposure may be much less than a homeowner who has to worry about visitor injuries anywhere on their property: their driveway, backyard, porch, etc. A guest injury that happens in your condominium’s shared areas may end up being the HOA’s responsibility.

Condo insurance coverage with Kin

Searching “condo insurance near me” so that you can find the right policy?

Our company’s condo insurance services are some of the best in the industry. We use an innovative direct-to-consumer model to help condo owners with cutting-edge products that provide savings of up to $400 when compared to other insurers.*

When you choose Kin, you work with an agent armed with condo insurance designed for the new normal. Our representatives go the extra mile to make sure every customer gets the coverage they need at an affordable premium. We’re committed to providing exceptional service, an easy claims process, and quality condo insurance in just a few clicks.