What Does Condo Insurance Cover? | Blog | Vargas & Vargas Insurance

duda
Black calendar icon with a small square date marker

Condo insurance is property insurance for condo owners. It’s designed to protect the condo contents and repair the unit in instances of fire or burglary. Condo insurance provides liability coverage for the condo owner, too. Today, we’ll take a closer look at  Massachusetts condo insurance. We’ll explore the coverages and perils that policies can insure against — and highlight some gaps, too. Remember, if you have deeper questions about condo insurance,  talk to a licensed insurance agent  at Vargas & Vargas Insurance today!

What’s Covered by Condo Insurance in Massachusetts?

Condo insurance policies in Massachusetts are similar to homeowners insurance, with a few key differences. The basic idea is the same — it’s an insurance policy that protects the condo owner from loss from  perils  like:

  • Fire
  • Wind
  • Hail
  • Lightning
  • Burglary or theft
  • Civil riot 
  • Malicious mischief

In a nutshell, if your condo burns down or gets burglarized, then your insurance company will reimburse you for your belongings. Remember, condo insurance will only pay up to the policy limits (after the policyholder pays a deductible). It’s vital to know whether your condo insurance policy will pay you the  Actual Cash Value (ACV) of your belongings or Replacement Cost (RC)

Liability Coverage

“Liability” means responsibility. In Massachusetts, most condo insurance policies will include liability coverage. If a visitor stumbles in your home and breaks their ankle, this insurance covers you. 

What’s NOT Covered by Condo Insurance?

Condo owners don’t have an interest in the outer property. Your condo insurance policy won’t cover the condo building’s exterior, separate structures and outbuildings, fences, trees, and landscaping. 

Also, know that certain luxury items in your condo might not be covered. If you own an $18,000 painting by Pablo Picasso or a luxury strand of pearls, you’ll need to have them specifically added to your condo insurance policy. In addition, a standard condo policy  in Massachusetts  doesn’t cover some perils. Floods, for instance, require a separate flood policy.

Vargas & Vargas Insurance is proud to be your premier local independent insurance agency. We work for our clients, not the insurance company. We’re ready to customize your condo insurance to your unique needs at the right price, and we’re here to answer your insurance questions.  Contact us today.

About the Author

Carlos Vargas

Carlos Vargas

Carlos Vargas is the Founder and President of Vargas & Vargas Insurance Agency. He began his career in 1980 as a captive agent for a large national insurance company, but chose to become an independent insurance broker so he could offer clients better coverage options and more competitive products.


With 46 years of experience, Carlos believes strongly in the value of relationships and helping clients understand their insurance so they can make better decisions. In addition to leading the agency's vision and strategy, Carlos is deeply committed to community engagement and educating the public about insurance.


Outside of work, Carlos enjoys spending time with his wife, their sons and their families, and friends.

+ Reviews
Barbara Y.

Patricia

Michele O.

Frieda S.

Melinda H.

Jim S.

Alexa T.

Richard M.

Reggie B.

Antonio B.

Melanie F.

Esther G.

Colleen H.

Our Services

More Articles


Man smiling and waving beside text asking, “You sold your car, what should you do with license plates?”
By duda March 6, 2023
In Massachusetts, all drivers are required to register their vehicles and purchase compulsory auto insurance coverage. To ensure that drivers comply with state insurance laws, drivers must turn in their license plates before canceling their auto insurance policy. And if you are transferring your Vehicle’s ownership, it is your responsibility to properly register and insure the car before driving on state roads. Leaving your license plate on the car could make you liable for the actions of another driver.
By duda March 4, 2023
A personal umbrella policy provides additional liability protection beyond the liability limits that you now carry on your home, renters, or condo insurance and auto insurance. If you are sued and exhaust your existing liability coverage, the umbrella policy will take care of the remainder up to the limit you selected.