WITHIN YOUR FOUR WALLS

CONDOMINIUM INSURANCE

Condominium insurance is unique. Your condo insurance policy covers your personal property and liability, as well as any additions, alterations, and improvements you make to your unit that are your responsibility based on the condo association agreement.  

 

Optional loss assessment coverage is also available to protect you against certain assessments that may be levied by the association. You would be compensated for additional living expenses incurred should you need to vacate your condo after a covered loss. Let TIA help you find the right amount of coverage to suit your insurance needs. Call us today at 312.802.8817.

Chicago here is what you need to know about condo insurance.


Condo insurance provides coverage for your personal property and much more. For a few more dollars, you can elect to carry Full Value Personal Property which ensures that you are reimbursed full replacement value without regard for depreciation after a covered loss.

If you have upgraded cabinets or put in hardwood floors, condo building item coverage protects these investments. Be sure to consult your HOA agreement to determine what the Association policy covers and what you are responsible for.  If common areas are damaged, your condo association may levy assessments against all the owners to pay the deductible on their association policy.

Various limits of loss assessment coverage are available. Be sure to consult the HOA agreement to determine the potential for such assessments. TIA can help you determine your coverage needs to make sure you’re properly covered. Call us at 312.802.8817 or online at robert@truskainsurance.com.

Protect yourself and your guests
Your condo insurance policy protects you and your family members against bodily injury and property damage liability claims and any litigation that may result subject to the limits you select. In addition, you can select medical payments coverage which will pay for medical expenses incurred by a visitor who is injured at your residence regardless of fault. Various limits are available.

Extra coverage doesn’t have to cost a lot
Many people supplement their condo insurance coverage with personal umbrella liability insurance for broader protection. If you have special valuable items such as jewelry, art, antiques or collectibles, ask about our Valuable Articles option which provides broader coverage and no deductible in the event of a covered loss.

Ask us about additional coverage for your condo:

Unit assessment

This reimburses you for your share of an assessment charged to all unit owners as a result of a covered loss. For instance, if there is a fire in the lobby, all the unit owners are charged the cost of repairing the loss.

Water back-up

This insures your property for damage by the back-up of sewers or drains. Water back-up may not always be included in a policy. Check to see that it is included.

Umbrella liability

This is an inexpensive way to get more liability protection and broader coverage than is included in a standard condo/co-op policy.

Flood or earthquake.

Floater or endorsement

If you own expensive jewelry, furs or collectibles, you might consider getting additional coverage since there is generally a $1,000 to $2,000 limit for theft of jewelry on a standard policy.

Find unique insurance that is right for your condo
Contact TIA to identify the best combination of coverage, value, and price for you. We can help make sure your condo insurance continually meets your needs. Call us at 312.802.8817 or online at robert@truskainsurance.com.

 

980 N Michigan Ave, Suite 1400

Chicago, IL  60611

312.802.8817

info@truskainsurance.com

© 2020 by Truska Insurance Agency, Inc.