Condo Insurance in California

As Santa Monica, CA. condo insurance agents, we hope to help our clients understand how coverage for condominium units differs from other kinds of home policies. Though these policies are similar to both California homeowners and renters insurance, there are some important differences.

Understanding California Condo Insurance

People who own a condo unit typically belong to an association of all of the owners in a building or complex. This association holds a policy that covers the external part of the building. It also covers common areas like a pool, a meeting room, corridors, and laundry rooms. This means that each individual owner will only be responsible for insuring the inside of their unit.

Condominium policies may cover:

  • Structures that are internal to the unit: Since the association policy covers the external building, this covers the inside of the unit.
  • Personal property: This helps cover personal possessions.
  • Loss of use: This policy feature is sometimes called relocation assistance and it may help owners find temporary housing if they need to move out because they cannot live in the unit due to a covered hazard.
  • Liability: This part of the policy helps protect the unit owner in case a visitor claims that they were injured or had property damaged because of the owner's negligence.
  • According to the California Department of Insurance, earthquake insurance is not automatically included in typical policies. In some parts of the state this might be an important consideration.

    At Express Financial & Insurance Services, we understand how important your home is to you and how different condo policies can best serve different customers. As independent agents, we can shop the local insurance market to help you find quality coverage at a sensible price. Contact us at your earliest convenience for information and quick price quotes.