Will Condo Insurance Cover My Personal Belongings?

If you own a condo in Fort Myers, FL, you aren’t required by law to carry condo insurance. However, if your furniture and clothing are damaged by a burst pipe or overflowing sink in your own unit, you may have to come up with the money to replace your belongings. Your condo association may also require a certain amount of insurance and lenders may have a similar requirement if you took out a mortgage on your condo.

The professionals at SWFL Insurance Agency Inc. can answer any questions you have on the types of condo insurance coverage you may benefit from. Here is some additional information on personal belongings coverage to get you started.

What is Condo Insurance for Personal Belongings?

Condo insurance is available to protect your personal belongings, which aren’t covered in your condominium’s master insurance policy. Often called a walls-in policy, condo insurance protects individual units. Typical policies offer various coverage options, including reimbursement for personal belonging lost or damaged in a covered event.

What’s Covered?

Appliances, clothing, jewelry, electronics and furniture and are usually written into your personal property coverage. If any of these items are damaged in a covered event, your insurance pays to repair or replace them.

Condo owners choose how much coverage they need, including:

  • Actual cash value gives you the depreciated value for your damaged belongings.
  • Replacement cost coverage reimburses you for the replacement cost of the lost or stolen items, regardless of depreciation.

Contact your SWFL Insurance Agency Inc. representative to set up an appointment to discuss your condo insurance needs. Come in for a quote on your Fort Myers, FL condo or contact an agent today so that you can rest assured that your belongings are covered in the unfortunate case of an event beyond your control.