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Myth or Fact?

Commercial Condominium Association & Units

Does my Condominium Association Insurance cover the inside of my unit?

Property Protection-

There is a Myth or misconception that the condominium association insurance covers the interior of the owners unit. Condominium associations are responsible for insuring common elements, such as the building exterior, walkways, club house, gym, etc. But as a condo owner, you’re typically responsible for covering everything inside your unit, including cabinetry and appliances. Talk to your agent to calculate an appropriate amount. Condo-Hotels owners that participate in the short rentals should also inform their insurance agent of the short term rentals to appropriately insure the property and against any liability. In addition ask the hotel management is they have them as additional insureds for their units.

Commercial Residential – Condo Hotel Association Unit Owners & Tenants

Does the insurance of the Condominium Association or the Insurance of the Condo-Hotel Association cover the inside of my unit?

Property Protection- There is a Myth or misconception that the condominium association insurance covers the interior of the owners unit. Condominium associations are responsible for insuring common elements and Co-Ops are responsible for the common areas, such as the building exterior, walkways, club house, gym, etc. But as a condo owner, you’re typically responsible for covering everything inside your unit, including cabinetry and appliances.

Talk to your agent to calculate an appropriate amount. Condo-Hotels unit owners that participate in the short rentals should also inform their insurance agent of the short term rentals to appropriately insure the property and against any civil liability. In addition, ask the hotel management if they have them as additional named insured’s for their units.