Condo insurance quote

A condo insurance policy covers any damages to your unit's structure and your personal belongings caused by certain perils, such as fire or vandalism. You don't have to own a house to protect the things you love – your condo is your home, and it deserves to be treated like one.

You might think your association's insurance covers your condo and belongings, but unfortunately, that's not always the case. While the association's insurance does cover parts of the building's structure, it generally doesn't include your personal belongings like furniture, clothes and electronics. But a condo policy will help you repair or replace those belongings if they're damaged by a covered peril, such as theft, fire, smoke and more.

Additionally, many lenders require you to purchase "walls-in" coverage to protect the inside of your unit and your belongings (typically written as an HO-6 form).

When it comes to Allstate® condo insurance, you have your pick of several standard types of coverage that help protect you, your condo unit and your belongings. And if you want even more protection, you can buy additional, optional coverage.

Condo insurance helps pay for costs resulting from covered perils, which include:

• Theft
• Fire and smoke
• Vandalism
• Sudden and accidental water damage from your plumbing, water heater, heating or air conditioning system, or household appliances.

Here's a look at some of the coverages provided by a standard Allstate condo insurance policy.

Personal property coverage

This helps pay to repair or replace the possessions inside your condo or townhome, like furniture, electronics and clothes, if they're damaged by a covered peril. When you purchase your policy, you may be able to choose between two types of personal property coverage:

• Actual cash value, which helps reimburse you for your belongings' depreciated value based on factors such as their age or condition.
• Reimbursement provision, which pays you for the depreciated value of your belongings, and then, after you've replaced an item, sends a second reimbursement check for the remaining amount needed to purchase the new item.

Liability coverage

If someone sues you after being injured in your condo unit or you're responsible for repairs after you accidentally damage another person's property, condo liability insurance may help pay for your expenses.

Guest medical coverage

If a visitor is injured while on your property, this coverage helps pay for X-rays, ambulance rides and other reasonable and necessary medical expenses, even if you are not at fault.

Additional living expenses

This coverage helps reimburse you for increased living costs if you temporarily can't live in your condo or townhouse after a covered claim. It typically helps you pay for food, a temporary place to live and more.

Building property protection

If belongings that aren't typically considered personal property, like cabinetry and appliances, are damaged in a covered claim, this coverage helps pay to repair or replace them. In some cases, though, these items are covered by your condo association's master policy.

When you purchase a condo insurance policy, you can select deductibles and coverage limits based on your needs.

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.

The amount you pay for condo insurance depends on a number of factors, including the types of protection and coverage limits you choose. Tailor your policy to meet your needs – and suit your budget – when you get your quick and easy quote online.

The amount you pay for condo insurance depends on a number of factors, including the types of protection and coverage limits you choose. Tailor your policy to fit your needs and budget with a quick and easy online quote.

Take into consideration your condo's location and the coverage that your association's policy provides when you decide how much insurance you'll need to protect your investment. Confirm that your policy can cover the cost of repairing or replacing finishes, fixtures, and interior elements of your unit and make sure that the replacement costs are insured, as opposed to just the market value.

And, lastly, if your belongings include designer furniture, artwork or other high-value items, you may want to add on a personal property insurance policy to make sure all of your possessions would be covered in the event of a loss.

Everyone wants to save money, and we try to make it easy. Reduce the cost of condo insurance by take advantage of discounts, including:

• Multi-policy discount
  Save when you bundle your condo insurance with an Allstate auto insurance policy. Additional discounts are available if you bundle with other Allstate policies, such as life insurance, personal umbrella policy or boat insurance.
• Welcome & loyalty discount
  Save on your condo insurance premium just for switching to Allstate. As long as you're a customer, you'll continue to save every year after that.
• Protective device discount
  Save when your condo has theft or fire protection devices.
• Homebuyer discount
  If you have just purchased a condo, you may be able to reduce your condo insurance costs.
• Easy Pay Plan^®
  Save when you set up automatic payments.
• Early signing discount
  Save on your condo insurance premium when you sign up for a new policy at least seven days before your current one with a different insurer expires.
• Claim-free discount
  Save when you switch to Allstate without a recent condo insurance claim.
• Responsible payer discount
  Save for making your premium payments on time.
• Windstorm mitigation discounts
  Available for Florida homes that have documented wind-damage mitigation features, which protect against wind and rain damage present in hurricanes and other severe windstorms. Wind-damage mitigation features make your home safer and can yield significant savings on your property insurance policy. To qualify for these Florida discounts available from Castle Key Insurance Company and Castle Key Indemnity Company, wind mitigation features may be verified through a licensed inspector or licensed general contractor.