Insurance Tip

Vacant Condo Insurance will cover your condo when nobody is living in it.

These policies tend to be very inexpensive. If your condo will be empty for several months at a time, vacant condo insurance might be a good option for you.




What is Condo Insurance?

Condo insurance covers personal property damage and liability risks faced by condo owners and picks up where the condo association insurance leaves off. Most mortgage companies require you to buy condo insurance and remain covered for the life of your loan. Condo insurance is designed to protect you from financial loss if someone is injured in your home and from damages and loss due to burglary, fire or other incidents.

What is NOT covered by insurance for Condos?

Condo insurance will not cover damages to personal property caused by flooding; you must have a separate flood insurance policy if rising water from a river or other waterway damages your home. Keep in mind that flood insurance requires 30 days from the date of purchase before it will provide coverage, so do not wait until a flood warning to purchase a policy.

In addition, condo insurance will not typically cover damages to your property caused by your car or truck, or damage to your vehicles. While in some cases you can add a personal watercraft or ATV to your policy, the coverage offered for these recreational vehicles is often very limited. Insurance professionals recommend purchasing separate policies specific to your specialty items, boats, recreational toys and vehicles.

Let our agents help you make the most informed decision about the amount of coverage, deductible options, and rates by presenting you with a number of different options that will meet your needs for your condo in Georgia or South Carolina.