Condo Insurance in Virginia & Maryland
Beacon
Condo Insurance
- WHAT IS IT?
- WHO NEEDS IT?
- COVERAGES OFFERED
Condo insurance is specialized homeowners insurance that’s designed to protect condominium units.
Most condo owners in Virginia and Maryland should have condominium insurance, and community bylaws and mortgage stipulations often require that a policy be maintained. Not having insurance could leave owners exposed to significant risk and other penalties
Structural Coverage: May insure a condominium unit itself
Personal Property Coverage: May insure belongings (e.g. clothes, furniture)
Personal Liability Coverage: May insure against some liability lawsuits
Loss Assessment Coverage: May insure against certain special assessments
Beacon Insurance Group is Here to Help
For decades, Beacon Insurance Group has been providing quality and affordable insurance coverage to the good people of Virginia and Maryland. Our team has carefully handpicked reputable insurance companies that we are confident can provide you with the security and peace of mind that you deserve.
Whether you are a business owner or looking for protection in your everyday personal life, we know that you don’t have the time to worry about your insurance programs. That’s what we are here for. At Beacon Insurance Group, we do the digging to find you the best possible coverage at the best possible price.
It’s incredibly important to us that we continually provide you with expertise and that personal touch that you are looking for when it comes to finding high-quality condo insurance
Fill out the form to get in touch with a specialized condo insurance agent and we will get you the superior customer service that you deserve!
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What is Condo Insurance?
Condominiums present unique insurance considerations, for they’re private dwellings but located within communal complexes. Condo insurance helps condominium owners in Virginia and Maryland get the unique coverages that they need.
Condo insurance is specialized homeowners insurance that’s designed to protect condominium units. These policies are often abbreviated as HO-6 policies within the insurance industry.
Who in Virginia & Maryland Needs Condominium Insurance?
Most condo owners in Virginia and Maryland should have condominium insurance, and community bylaws and mortgage stipulations often require that a policy be maintained. Not having insurance could leave owners exposed to significant risk and other penalties
What Coverages Does Condominium Insurance Come With?
Condominium insurance policies usually provide multiple individual coverages, many of which are similar to those found in other homeowners policies. Some of the more common coverages are:
- Structural Coverage: May insure a condominium unit itself
- Personal Property Coverage: May insure belongings (e.g. clothes, furniture)
- Personal Liability Coverage: May insure against some liability lawsuits
- Loss Assessment Coverage: May insure against certain special assessments
Loss assessment coverage typically only covers special assessments arising from covered incidents, and not assessments that are used to fund capital improvements.
What Types of Structural Coverage Do Condominium Insurance Policies Provide?
Condominium policies may provide a few different levels of structural coverage:
- Bare Walls-In: Usually covers only the basic walls of a condominium and a few systems
- Single Entity: Usually covers the walls, systems and standard features
- Modified Single Entity: Usually covers the walls, systems, standard features and upgrades
Which type of policy should be purchased in a particular situation depends partly on what protections the condominium association’s master policy affords. An insurance agent who specializes in condominium policies can review a master policy and then recommend one of these three structural coverages.
How Can Condominium Owners in Virginia & Maryland Get Condo Insurance?
For help insuring a condominium that’s located in Virginia or Maryland, get in touch with the independent insurance agents at Beacon Insurance Group. Our agents have helped many condominium owners, and we’ll make sure you get the condo insurance your unit needs.
What are the Advantages of Working with an Independent Agent like Beacon Insurance Group?
This is a question that we hear all the time – and that’s okay! – because we know that the insurance world can be confusing. That’s why we are here to help you.
Securing your insurance through an independent agent rather than buying straight from an insurance company is similar to hiring a lawyer before going to court, rather than defending yourself. Just like lawyers, independent agents have the knowledge of the entire industry with attention to important, cost-saving details that only come with years of experience.
But, UNLIKE lawyers, going through an independent agent not only comes with no extra charge, but it can often SAVE you money by being able to shop your needs to many different insurance companies, and also by ensuring that you are only being covered for what you need.
Independent agents are your helping hand in your journey through the overwhelming insurance world. We are real human beings that are equipped with the knowledge, expertise, and friendliness to help make your life easier, especially in tough times. We recommend you submit a form on this page to talk to one of our agents for free – at your convenience!
