Is Homeowners Insurance Included In Condo Fees?

  1. 22 POINTS
    Dan Beukelman
    CSR, American Family Insurance,
    No, Condo Owner's Insurance is not included in your fees.  Generally (refer to your master association document) the Association would insure from the wall studs out (siding, insulation, roof) and will carry liability to cover the association.  You need to insure from the wall studs in.  That includes sheetrock, trim, cabinets, carpet, personal property and your own liability risk.  Condo insurance is not very expensive since most claims happen on the outside of the building (wind and hail).  A specific area to look at is weather or not your heating and cooling equipment is covered by the assocation, or if you need to insure it.
    Answered on March 14, 2014
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  2. 1844 POINTS
    David W. Clausen
    Chief Executive Officer, Coastal Homeowners Insurance Solutions, Rocky Point, NY 11778
    No. Homeowners insurance is not covered in your condo association fees. Your condo association fees will likely include coverage for common areas and for insurance to replace damage to your unit, not including upgrades or personal property inside your unit. You will need to secure coverage for additions & betterment(s) (otherwise known as upgrades) to your unit and for personal property (your stuff), loss of use coverage and Personal Liability. Be sure to check with your local independent insurance agent and your condo association. Hope this answer helps.
    Answered on September 21, 2015
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