Condo Insurance

Condo Insurance In Texas

One of the more attractive lifestyles in Texas is condo living, as it has minimal maintenance requirements and access to several amenities. As a condo owner, you are responsible for paying a portion of the community insurance policy, but it is critical that you also carry your own condo insurance.

Is Condo Insurance Required?

While the state of Texas will not require you to carry condo insurance on your property, your lienholder or mortgage lender may require it. It could also be a requirement of your HOA regulations that you agreed to upon purchasing the condo. Remember that this is in addition to the master insurance policy that covers shared properties in the community. Even if it is not required and you are not carrying a mortgage on your condo, you can still purchase condo insurance for financial security.

What is Covered Under Your Policy?

Your condo insurance policy will cover anything behind the door to your condo in rooms that do not share walls with other units. If there is a break-in to the condo and you have items destroyed or stolen, you will need your policy to claim and reimburse this property. When you obtain condo insurance for your property, listing all the items you own within the condo and their value is essential.

Damage that may happen to shared walls and exteriors, however, would not be covered under your condo insurance policy. You must refer to the community policy at that time to make a claim. Because there are likely to be multiple condo owners claiming this policy, you may need to pay for the damages and be reimbursed later.

Do You Have More Questions?

If you want to know more about getting your condo insurance policy, contact our team at San Jacinto Insurance today for more information and a personal quote for your condo.