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Condo Insurance Deductibles and Limits

What is a Coverage Limit?

A coverage limit is the maximum amount Allstate will reimburse you for a covered claim. Each coverage in your condo owners insurance policy has a limit. You set your coverage limits when you purchase a condo insurance policy.

It's important to understand how much your belongings are worth so you can choose appropriate coverage limits. Your limits are listed in your policy declarations. Your local Allstate agent can help you choose or adjust your coverage limits to fit your needs.

Certain types of your belongings, such as expensive jewelry, may have lower personal property coverage limits. An agent can help you review additional insurance options for those belongings.

You can count on a local agent.

An Allstate agent can help you find ways to protect what matters most.

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What is a Deductible?

When you file a claim for a covered loss, you may be responsible for a set amount, called a deductible, before your insurance helps pay to repair or replace whatever is damaged or stolen. You choose your deductibles when you purchase your condo insurance coverage, and your agent can help you adjust them to fit your needs. Your deductible for each coverage is listed in your condominium owners insurance policy declarations.

Not all coverages have a deductible. However, a deductible always applies to a personal property claim.

Typically, choosing a higher deductible results in a lower insurance premium, while you may pay a higher premium if you set a lower deductible.

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Insurance, coverage and discounts are subject to terms and conditions, which may vary by state. Exclusions may apply. Discount amounts and total savings will vary. Policy issuance is subject to qualifications. Allstate Insurance Company, Allstate Indemnity Company, Allstate Fire and Casualty Insurance Company, Allstate Vehicle and Property Insurance Company, Allstate Property and Casualty Insurance Company, Northbrook, IL. © 2018 Allstate Insurance Company, Northbrook, IL.
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