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Windgate Insurance Agency, Inc

375 Windsor Hwy, Suite 500
New Windsor, NY 12553

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Condo Insurance in New York

Owning a condominium in New York is very prestigious, but your condo association only offers a standard insurance policy that is often referred to in the industry as walls-in coverage. The policy protects all the association's individual units and all common areas. However, the insurance plan isn't covering for every possible situation, so it's wise for condo owners to secure additional coverage.

Condo insurance is a separate policy from your association's coverage as this is purchased solely by yourself. This type of coverage helps to pay for all repairs done to the condo or replace personal items that were stolen or damaged from vandalism or a disaster such as fire and flooding. Plus, condo insurance protects an owner against all liability claims.

What is Covered by Condo Association Insurance Policy

The validity of a Condo Association Insurance Policy often comes down to defining what is "all common areas." Most policies interpret it to be the condo's building structure, which includes the roof, walls and private entrance to the unit. All repair costs are shared by each condo owner as the payment is included in the yearly association fees.

Coverage Gained From Condo Insurance

While it's not mandatory by the state of New York, many unit owners have some form of condo insurance, which adds further protection to their investment over the minimal insurance coverage provided by their condo association. Many select a policy that protects them against all potential liability claims. Condo insurance aids if a person is injured inside your condo or if their personal belongings are damaged or stolen. Liability coverage protects comes into effect if the person in question decides to sue for personal loss. Condo insurance provides added protection if the unit's flooring is damaged. The replacement or repair process is fully paid for once you have filed a claim with your insurance provider.

If you're ready to discuss your condo insurance needs and see what possible options are available, then meet with one of our experts at Windgate Insurance Agency Inc of New Windsor, NY for assistance. We're here to answer all your insurance needs.