Proudly Providing Condo Insurance to Residents in Worcester, MA & Many Other Cities and States Across the Nation

Few condominium owners in Worcester, Massachusetts could afford to rebuild their condo if it was destroyed or replace their belongings if they were lost. Condo insurance helps condominium owners protect their units, their belongings, and themselves from covered perils.

What is Condo Insurance?

Condo insurance policies are similar to renters and homeowners policies, but they’re adapted to meet the unique insurance needs of condominium owners. Like most renters and homeowners policies, condo policies usually include personal property coverage and liability coverage. Condo policies’ structural coverage, however, makes them different from both renters policies (which typically don’t include structural coverage) and homeowners policies (which usually have more robust structural protections).

What Does HO-6 Stand For?

Most personal insurance policies that protect homes are identified within the insurance industry by an abbreviation. There are abbreviations for homeowners policies (e.g. HO-2 and HO-3), renters policies (HO-4), mobile home policies (HO-7), and older home policies (HO-8). HO-6 is the abbreviation for condo policies.

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What Structural Protections Does Condominium Insurance Offer?

Condominium insurance policies offer varying levels of structural coverage. Some policies include very little protection for a condominium’s structure, while others offer coverage for all of the features and finishings in a unit. Still other policies fall between these two extremes, providing coverage for any upgrades that a condo owner has made to their unit.

How much structural protection a condo owner in Worcester, MA should look for depends on the amount of coverage that their condo association’s master policy provides.

For example, “bare walls-in” master condo association policies normally only provide coverage for a condo’s walls. These policies leave it up to condo owners to insure the rest of their units’ buildout. In contrast, “all-in” policies might cover a unit’s walls, fixtures and upgrades — leaving condo owners with few (if any) other structural components to insure.

Who in Worcester, MA Should Consider Getting Condominium Insurance?

Most residents of Worcester, MA who own a condo should consider purchasing condominium insurance. In some cases, condo owners might be required by the terms of a loan to obtain coverage. Even condo owners who aren’t obligated to get a policy, however, may want to. As mentioned, few condo owners could afford to rebuild their unit or replace their belongings if something happened.

Do Vacant Condominiums Need to Be Insured?

In most cases, vacant condominiums should be insured. For, condo owners still have a lot invested in vacant condo units, and they still may be held liable for any accidents that occur within their condos.

Many insurers in Massachusetts offer inexpensive coverage options for condominiums that are vacant. Condo owners can talk with an insurance agent to find out exactly how much coverage for a vacant condo would cost them.

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Do Condominium Policies Provide Flood Coverage?

Condominium policies generally don’t provide flood coverage. Policies sometimes include coverages for plumbing leaks and sewer backups, but these coverages shouldn’t be confused with flood coverage. Plumbing and sewer backup coverages are designed to protect against plumbing issues — and not flooding caused by excessive rainfall or snowmelt.

Condo owners who want to safeguard their unit from floods may want to consider purchasing flood insurance. This insurance is usually bought separately from condominium insurance.

How Can Condominium Owners Get Condo Insurance?

Condo owners in Worcester, MA who would like help finding affordable condo insurance that provides robust protections should contact an independent insurance agent who serves the city. An independent agent can help a condo owner assess their risk exposure, examining their condo association’s master policy and determine what coverages they need. An agent can then request quotes for policies that offer those protections and share those quotes with the condo owner.

Contact Us

The Feingold Companies

Worcester Office
446 Main Street, Suite 1403
Worcester, MA 01608
Phone: (508) 831-9500
Fax: (508) 797-4030

New Lakeside & Dudley Insurance
446 Main Street, Suite 1403,
Worcester, MA 01608
Phone: (508) 943-0090

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