You may also choose to add optional coverages to your condo insurance policy for even greater protection. Optional coverages are not available in all states.

Water backup coverage

Water backup coverage helps pay to repair damage in your unit caused by backed-up drains or sump pumps.

Loss assessment coverage

If something happens to your condo's shared building or common areas that exceeds the condo association's insurance limits, all unit owners may be required to pay a special assessment toward repairs. For instance, loss assessment coverage may help pay to repair damage to common areas that results from an incident that originates in your unit. It also helps pay for your share of the loss assessment or for your costs if unit owners are assessed to pay the condo association's insurance deductible.

For example, suppose hail or wind causes $550,000 in damage to the exterior of your building. If your condo association's policy only provides $500,000 in coverage, the association might divide the remaining $50,000 among the condo owners, leaving you with an unexpected bill. Loss assessment coverage could help prevent you from paying out of pocket for your share of that cost. To help determine how much loss assessment coverage may be right for you, it's a good idea to review your association's master insurance policy to find out how much coverage it has in place.

Building code coverage

This coverage helps pay for increased costs you incur due to the enforcement of building codes, ordinances or laws regarding construction, maintenance or demolition of your home.

Allstate's HostAdvantage®

If you occasionally rent out your condo, HostAdvantage helps prevent you from paying out of pocket if your belongings are stolen or damaged while you're a home-sharing host.

Identity restoration coverage

Identity restoration coverage helps pay for legal bills and lost wages associated with the theft of your identity, as well as a fraud specialist to help you through the process.

Additional protection for certain items

Allstate offers optional protections that provide increased coverage limits for specific valuable belongings, such as jewelry, cameras, antiques and recreational equipment. These coverages also offer protection for a greater number of risks. An agent can explain your options for scheduled personal property or extended coverage.

Increased coverage for business property

Standard condo insurance provides minimal coverage for business property. Purchasing increased coverage for business property increases your coverage limit for samples or inventory you're storing in your condo in case they are stolen or damaged by another covered risk.

Electronic data recovery

This pays up to $5,000 toward the cost of recovering lost data from computers, such as family photos, videos and music files.

Green improvement reimbursement

If items such as appliances are damaged or destroyed in a covered loss, this protection helps reimburse you for the cost difference between the standard models you had and more energy-efficient ones you purchase.

You may also want to consider purchasing other types of insurance policies to help protect you and your condo.

Options include:

Personal umbrella policy
Umbrella insurance provides liability coverage above the limits of your condo insurance policy. If you are sued over an accident, for instance, and the settlement is more than the liability limit on your condo insurance policy, umbrella insurance can help cover the cost.

Flood insurance
A standard condo insurance policy does not cover damage caused by flood. An Allstate agent can help you purchase a flood insurance policy through the National Flood Insurance Program.