New Hampshire / Maine Condominium Insurance
Complete Protection for Your Condominium
We at Brownell Insurance Center understand that as the owner of a condominium unit, your insurance needs are different from other homeowners. Chances are your association purchased a master policy to cover common areas like the exterior building and walkways. But you are responsible for insuring your individual, personal interests within your unit. You need both personal property and liability insurance.
A Condominium Policy Protects:
Selection of Coverage Options:
- Personal Belongings, no matter where they are used
- Personal Liability, that protects you against a claim or lawsuit if someone is injured or their property is damaged while in your condo
- Cost of Common Property Loss, assessed by the condo association on all unit owners
- Contents Replacement. Provides full replacement cost for personal belongings with no deduction for depreciation.
- Personal Injury. Protects you against libel and slander.
- Identity Theft Protection. Provides assistance from a consumer fraud specialist and covers expenses related to restoring your good name and financial reputation.
- Valuable Items Endorsement. Provides a blanket of coverage that is broader than what a basic Homeowners policy provides. It is the right coverage for people who own valuable possessions such as jewelry, artwork cameras and computers.
- Personal Articles Floater. Provides even more comprehensive coverage than the Valuables Items Plus endorsement. It is the right coverage for people who wish to protect items that have been carefully selected and whose values exceed the limits of either the Condominium policy or the Valuable Items Plus endorsement.
- Umbrella Policy. Offers an additional $1 million to $5 million of liability protection incase you are sued.
- Flood Coverage. Flood damage is typically not covered under a homeowners policy. This affordable coverage covers damage to your property and provides cleanup reimbursement.
- Pleasure Boat Insurance for small watercrafts.
Get Maximum Value with Competitive Pricing and Money-Saving Discounts
Our Condominium Insurance is competitively priced. We offer great value with many money-saving discounts:*
- Claim free discount
- Security discounts for homes equipped with:
- Smoke detectors
- Dead bolts
- Fire extinguishers or alarm systems.
More Condo Insurance Information:
Condominium coverage is available to condominium and co-op owners, and bridges the gap between your condo association's master policy (which insures property owned by all unit owners) and your property and personal liability protection.
The master policy includes coverage for the actual building in which you reside, as well as common property like a pool or gazebo. Be sure to read your master policy well or bring it to us at Brownell Insurance Center to review for you. It is extremely important that you know if the master policy covers the interior of your unit replace your unit back to the original condition when it was new (Turn Key) or does the master policy only replace the outside shell. If you do not carry the right coverage you can find yourself without the funds to replace your kitchen cabinets, moldings, sheetrock etc. If you make improvements to your condo, such as granite counter tops, hardwood floors or other custom items please be sure to let us know for remember your unit if the master policy is “Turn Key” you will get the original unit back without your upgrades!
We at Brownell Insurance Center will take the time to be sure you are properly covered so if the worst happens you will get your condo back the correct way … improvements and all.
Your condominium owners policy offers you the following important protection:
Personal property coverage
A condominium owners policy provides coverage for your furniture and personal possessions against such covered hazards as fire, lightning, windstorm, hail, explosion, collapse, smoke or vandalism. This is also called Contents Coverage and it ensures that your damaged or destroyed property is protected...up to the amount of insurance protection you purchase.
Theft protection: the condominium owners policy also protects your property against practically every type of theft loss in your condo or anywhere in the world. Also included is coverage for thefts from your unattended car or boat, even if there is no evidence of forced entry.
Special coverage for important possessions: Most condo policies offer special amounts of coverage for certain types of property. For example,
- $200 for money and coins
- $1,000 for theft of jewelry, watches or furs
- $2,000 for theft of firearms
- $2,500 for business property at home.
You can choose to increase these amounts if you like.
Optional property coverages
Every home is different. You may require special coverages for your individual needs. The following coverages can be purchased separately:
- Broadened Coverage for Contents: provides "all-risk" protection for your possessions. This means that your personal property is covered in most situations, regardless of the cause of loss.
- Contents Replacement Cost: pays full cost to repair or replace most personal property in your condo with no deduction for depreciation.
- Valuable Items Endorsement: provides higher limits and worldwide protection for special property such as jewelry, silverware, fine art, furs, cameras, firearms, musical instruments, and home computers for an extended variety of losses. For your convenience, no appraisal or listing of insured items is required.
- Additional Coverage Endorsement (ACE): extends protection or increases limits on special types of property (for example: jewelry, firearms, or silverware). This coverage also increases personal liability coverage by $100,000 and includes coverage for personal injury.
- Coverage for other structures: you may own other structures that are not part of your basic condo unit (such as a carport, detached garage or storage shed). If these structures are not considered to be common property, they are not covered under your Association's Master Policy. This add-on coverage would insure these other structures.
Personal liability protection
Liability coverage is important protection in the event that you are sued for accidentally hurting other people or damaging their property. Personal liability helps to cover the associated legal costs and related damages. Most condo owners policies provide $100,000 (minimum) of financial protection against liability claims and lawsuits brought by others for accidental bodily injury or damage to their property:
- while in your condo
- caused by your personal activities, including most sports
- caused by your children or pets.
We at Brownell Insurance Center recommend that you carry $300,000 or $ 500,000 liability coverage. This improvement is possible with as little as $20 per year.
Medical payments: Most policies will pay up to $1,000 per person in medical bills -- regardless of your legal responsibility -- when an accident involves bodily injury to others. Higher coverage amounts are available.
Damage to property of others: Should you accidentally damage someone else's personal property while that property is in your care, your condo owners policy will pay up to $500 for each occurrence.
Additional living expenses
If your unit is damaged and you have to move out while it's being repaired, you're covered! The policy pays for all necessary living expenses (hotel, meals, laundry, etc.)...up to 40% of the contents coverage amount you selected.
Additions and Alterations
Once we move into a new home, we often make improvements. According to your condominium declaration and/or bylaws, you may be responsible for interior parts of your unit such as glass, walls and doors.
Additions, alterations and other improvements made to your unit are also covered. For example, if you or a previous owner installed built-in appliances, wall-to-wall carpeting, upgraded kitchen cabinets, etc., they are insured up to $2,500 (however, you can choose to increase this amount).
Loss assessment coverage
Condominium coverage provides up to $1,000 of protection against financial loss if damage to commonly owned property exceeds the amount of coverage in the Master Policy. If your condo association is forced to assess all unit owners for the additional loss (or for personal liability claims against the association), you're covered!
A deductible is the amount of loss you agree to assume before your insurance coverage takes over. The higher your deductible, the lower the cost of your policy premium. The deductible applies to property losses only. Liability protection does not require a deductible.
This material is for informational purposes only. All statements herein are subject to the provisions, exclusions and conditions of the applicable policy. For an actual description of all coverages, terms and conditions, refer to the insurance policy. Coverages are subject to individual insureds meeting our underwriting qualifications and to state availability.
For more information or to receive a quote, fill out our Condo Insurance Quote Form.