How Does Condo Insurance Work?
Your condo association’s master policy, or HOA policy, will cover damage to your condo building, grounds and other external features. Your condominium policy therefore needs to cover your personal possessions, appliances, and sometimes installed fixtures and other attached features in the unit.
In the event of a covered loss, such as a burglary or fire, you will need to file a claim with your insurance company, and/or the condo association’s insurance company. For example, if your condominium was burglarized, most likely you will simply file a claim with your insurance company. However, if the burglary involved breaking and entering that destroyed an external doorway or if the external security experienced a failure that made the burglary possible, the claim may involve both your insurance company and the condo association policy.