Condo insurance

A condo insurance policy covers any damage to your unit's structure and your personal belongings caused by certain 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.

While most condo association policies do cover parts of the building's structure, they generally do not include your personal belongings like furniture, clothes and electronics. Allstate condo insurance helps fill in the gaps in most condo association policies including the costs to repair or replace those belongings if they're damaged by a covered peril, such as theft, fire or smoke.

Many lenders require you to purchase condo insurance, often referred to as walls-in coverage or an HO-6 policy.

Depending upon the type of coverage and limits you choose, Allstate offers condo insurance coverage for as little as $2/day¹. Get a quick quote online to find a policy tailored to meet your needs and budget.

By changing these three factors, you can compare between multiple rates to see what works for your budget and coverage needs:

• Choose your coverage
  Take a look at the types of coverage included in the standard policy and consider what other optional coverages you want to add.
• Consider your limits
  Be sure to think about your personal finances when selecting a limit, which is the maximum amount the insurer will pay for a covered claim.
• Select your deductibles
  Some condo insurance coverages come with a deductible, which is the amount you’ll pay out of pocket toward a claim. When choosing your deductible, be sure to think about how much you could comfortably afford to pay in the event of a claim.

To make sure you get the right protection to fit your needs, Allstate offers several standard types of coverage that help protect you, your condo unit and your belongings.

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, guest medical 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

If you need to relocate, pay for increased housing or food expenses, additional living expenses coverage can reimburse you after a covered claim.

Building property protection

If your condo association’s master policy covers only belongings considered personal property, building property protection can help. This could include costs to repair or replace cabinetry or appliances in a covered claim.

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

These are some of the key factors to help you choose the right amount of coverage:

• The location of your condo
• Coverage provided by your association's policy
• Enough coverage to pay for the cost of repairing or replacing finishes, fixtures, and interior elements of your unit
• Confirmation that your policy covers the costs for replacement as opposed to just the market value
• Adding a personal property policy can help make sure that designer designer furniture, artwork or other high-value items would be covered in the event of a loss

Allstate makes it easy to reduce the cost of condo insurance with discounts including:

• Multi-policy discount
  Save up to 21% when you bundle condo and auto.
• Welcome & loyalty discount
  Save up to 10%² for switching to Allstate and keep saving just for staying. Switch your existing condo insurance to Allstate, then save every year after that.
• Protective device discount
  Save up to 12%³ when you have safety devices installed, including theft or fire alarms.
• Easy Pay Plan^®
  Set up automatic payments and get a discount.
• Responsible payer discount
  Save for making your premium payments on time.