For more than 55 years, Pepper, Johnstone & Company has been trusted with insuring families and businesses. We partner with 60+ insurance companies so that you can consider options that provide the most appropriate protection.
Condo Insurance
from Pepper, Johnstone & Company
Condominium insurance is unique. A condo policy is designed to complement the condo association's master policy and provide tailored protection for the interior of your condo unit and personal assets. Condo owners and unit owners are responsible for insuring the interior of their condo unit, while the condo association's master policy typically covers the building's exterior and common areas. The condo insurance you buy covers your personal property, liability, and those parts of the unit that are your responsibility. The homeowners association may require condo insurance, especially if a mortgage lender is involved. It may also protect you from certain assessments levied by the condo association. Condo coverage includes protection for the interior elements of your condo unit, personal property, and liability, and understanding what is covered by the master policy is essential for unit owners. And you’re covered for costs you incur over normal living expenses if you have to vacate your home
Protect Your Belongings
Your home is filled with things like furniture and designer furniture that are important to you. Condo insurance can include personal property protection, which can travel with you wherever you happen to be in the world. Condo insurance coverages can also include protection for money and other valuables, subject to specific coverage limits. Should you choose this protection, the policy will pay the full replacement cost without depreciation deduction, up to the limits you select.
Protect Yourself and Your Guests
Condo insurance protects you and your family against bodily injury, property damage claims, and litigation up to the limits you select. Condo insurance policies include personal liability protection and liability coverage, which help pay for legal defense costs and court judgments if you are found legally responsible for injuries or property damage to others.
And if a visitor is injured on your property by you or a household member, medical payments coverage is included to help pay for emergency medical bills, up to the limits you select. This liability protection ensures you have personal liability coverage for both legal and medical expenses resulting from incidents for which you are legally responsible.
Get the Right Amount of Coverage for Unit Owners at the Best Price
The more information you provide us, the better Pepper, Johnstone & Company can assist you in creating a condo insurance policy that’s right for you. Several factors influence condo insurance cost and premiums, including your location, rebuilding expenses, and the value of your personal property.
Obtaining an insurance quote or a condo insurance quote today can help you determine how much coverage or how much condo insurance you need. Condo insurance depends on your individual needs, and comparing insurance rates and premiums can help you save money and find the best value.
Ask about condo insurance discounts for burglar alarms and for having multiple insurance policies with the same insurance company, as these safety features and discounts can help you save on your condo insurance premium.
Extra Coverage Doesn’t Have to Cost a Lot
Many people supplement their condo insurance coverage with personal umbrella liability insurance for broader protection. Ensuring the interior elements and finishes of your condo is important to ensure you are protected against the cost of replacing finishes and fixtures. Coverage should be based on replacement costs rather than market value to ensure you can fully repair or replace damaged interior elements. And if you have special possessions such as jewelry, art, antiques, or collectibles, ask about scheduled personal property coverage. Extra coverage can help cover damage caused by specific events not included in standard policies.
Frequently Asked Questions
About Condo Insurance
A condo master insurance policy provides coverage for shared areas and elements of a condominium building. This can include common spaces such as hallways, elevators, and other areas maintained by the condominium association.
Bare walls coverage generally insures the building's structure but does not cover interior finishes, fixtures, or improvements within individual units. The specific scope depends on the condominium association's master policy.
Single entity coverage typically includes standard interior finishes and fixtures originally provided by the developer. It generally does not extend to upgrades or improvements made by individual unit owners.
Modified single-entity coverage can include standard interior finishes as well as certain upgrades or replacements made by unit owners. The exact coverage depends on the terms of the master policy.
Flood and earthquake damage typically require separate coverage because these risks are generally not included in standard condo insurance policies. Reviewing available coverage options can help identify potential gaps.
Loss assessment coverage can help protect condo owners from certain assessments that may arise when the condominium association's master insurance policy does not fully cover a covered loss. The coverage applies according to the terms and limits of the individual condo insurance policy.
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This is a great company to work with! Casandra did an excellent job making sure my claim was completed in a timely manner. Julie is always there to help me any time I need to make changes to my insurance needs. The staff is always professional to work with. I trust Pepper, Johnstone & Company with all my insurance needs and have for many years.
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I started a company in January 2019 & the team at Pepper Johnstone helped me from the beginning. We serve mid-cap to large public companies in Alabama, Colorado and Texas. And, Bryan has been critical in helping us meet and maintain the required commercial insurance policies and coverage levels. Key reasons that I've been so pleased primarily include their high level of technical competence and timely responsiveness on new or changing insurance coverage requests. They do a great job & I can highly recommend them.
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