Purchasing a condo insurance policy may be less complex than purchasing home or car insurance, but there are still many misconceptions about a condo insurance policy.
Loss Assessment Coverage is an add-on to your condo insurance policy that comes in handy when the community of owners are responsible for unexpected damages.
Unlike homeowners, condo dwellers don't own the building they will live in or the land it sits on. But they do need protection for what's inside their specific unit.
Condo living offers some unbeatable benefits: efficiency, easy maintenance, independence and more.
Be confident you're protecting those benefits with a Stillwater Condo policy.
Your condo is more than just a place to live. It's a lifestyle. Protect it with Stillwater.
Insuring a condo actually means thinking about two policies.
First, there's your homeowners association's policy. It usually covers spaces with shared responsibility: for instance, the lobby, pool and pool house, plus the exterior walls and roof. Your association fee helps cover the cost of this policy.
Then, there's your policy - the one for which you're shopping. It needs to cover not only your belongings, but the spaces for which you have sole responsibility. That usually includes your unit's interior walls, floors, ceilings and everything within them. It also needs to protect you if you're liable for another's injury or property damage.
A Stillwater Condo policy offers this - and much more.
A smart first step is to check with your homeowners association. Its bylaws should outline exactly what the association policy covers, and what your policy needs to cover.
A Stillwater Condo policy picks up where your homeowners association's insurance leaves off.
Your policy's main coverages* include:
You can add options like Animal Liability, Identity Theft Protection, Personal Injury Coverage, Special Personal Property Coverage, Water Backup and Earthquake.
The deductible-which you choose when you buy a policy-is your dollar-amount "share" of a claim settlement. A high deductible means you get a lower rate, and have a higher share if you file a claim. A low deductible means a higher rate, and a lower share.
The sense of peace that comes with a Stillwater Condo policy is available at an affordable rate... and with discounts that will help you save.
You could save hundreds by combining discounts. And, you can take advantage of flexible payment options that help you keep your budget on track.
Whether it's your full-time residence or your weekend getaway, condos offer an easy, low maintenance lifestyle. You should expect the same from your coverage. That's why we offer great rates to protect your condo and the belongings inside. It's easy to grab a quote, sit back and enjoy your home.
*These are generalized coverage descriptions. Our Condo contract includes more detailed definitions.
** Varies by condo association