Condominiums: How to Protect Your Winter Home

Sep 6, 2018, 11:16 AM
Whether you're there just to escape the snow or year-round, you want the best protection for your condo.

The weather’s getting cooler, and the kids are in college. You may be ready to move on to the next step in your life — out of the house and into a condominium. Hastings Mutual has condo owners property insurance designed exclusively for you. Condo owners insurance is known as HO-6 in the insurance industry (HO stands for “homeowners”).
Condominium homes on spring day

What Condo Owners insurance covers

The policy covers not only the condominium itself, but also your belongings, like furniture, clothing, and electronics. It also addresses liability — what you could pay if you’re responsible for someone getting hurt or having their possessions damaged while in your home. It can be used to pay medical bills related to an injury, if someone is hurt while at your property. And it can go toward the costs of loss assessment, if you need to help pay for the condo’s common areas.

Coverage Plus endorsement

You can add to your condo owners insurance policy with the Coverage Plus endorsement, which provides coverage for several extra types of loss, like sewer or drain backup, and even the food that spoils if the power goes out. If you have a newer home, are already a policy owner with Hastings Mutual, or — like many condo owners — you’re what we call an “experienced homeowner” (age 50 or more), discounts may be available for you.

Not a Home

One of the reasons you’re living in a condo is that it isn’t a house. You normally don’t have to be solely responsible for the exterior of the property. Indoors, you have less space to take care of. When buying your condo insurance, talk to your agent about exactly what’s covered. If the condo is your main residence, or if you plan to rent it out, you may want to include the Coverage Plus endorsement for an extra level of protection.

Whether your condo is in a vibrant urban downtown, a calm suburban neighborhood, or anywhere in between, you want the very best for the place you call home. One of the best ways to secure your possessions and manage risk is with an HO-6 condo owners insurance policy.

If you want to know more about Hastings Mutual’s condo owners policy, or any of our other products, please contact your local independent insurance agent.

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