Condominium Insurance in Sulphur Spring, TX
Having the proper amount of condo insurance is essential for any condo unit owner. While condo associations usually cover the building and common areas, owners are responsible for insuring their individual units. Without the right condominium insurance, you could face significant financial risks in case of damage to your unit, theft or accidents within your space.
What Is Condominium Insurance? 
Condo insurance, or HO-6 insurance, may cover what your condo association’s master policy doesn’t. While the master policy typically covers the exterior structure and shared areas, condo insurance may cover your unit’s interior, belongings and personal liability. It may provide financial aid following certain water damage, fire, theft and lawsuits if someone is injured inside your unit.
How Much Is Condo Insurance in Texas?
In Texas, the cost of condo insurance can vary widely depending on factors like the location, size of the condo and the amount of coverage you choose. Higher-value condos or units in high-risk areas may have increased premiums. Factors such as the age of the building, safety features and deductible options also play a role in determining your rate. For an accurate quote, speak with an experienced insurance agent from Giles Insurance Agency.
What Does Condominium Insurance Cover?
Standard condo insurance policies typically cover the following areas:
- Dwelling coverage may provide financial protection for the walls, flooring, built-in appliances, and fixtures that are not covered by your association’s master policy.
- Personal property may cover your furniture, electronics, clothing and other belongings against risks like theft, fire and vandalism.
- Liability coverage may reimburse medical bills and legal expenses if someone is injured inside your unit or if you accidentally damage another unit.
- Loss of use coverage may cover temporary living expenses if a covered loss ruins your unit.
- Medical payments coverage may cover minor medical expenses for guests injured in your condo.
Learn More
Contact Giles Insurance Agency today to learn more and get a customized quote for your condo insurance needs.