Condo Insurance Coverages

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

Learn more about water backup 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.

This coverage helps pay for damage in your condo unit that stems from property owned by the condo association. For instance, suppose a pipe your association maintains breaks and water damages your unit. If the damage estimate is lower than your condo association's deductible, your association may not file an insurance claim. Extended protection coverage can help cover the cost of your association's deductible and help pay to repair the damage in your unit. Some condo policies include this as a standard coverage. If it's not included in yours, your Allstate agent can help you add this protection to your policy.

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.

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

Learn more about HostAdvantage >

This 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.

Learn more about identity restoration coverage >

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.

Learn more about scheduled personal property coverage >

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.

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

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.