Condo & Co-op Insurance
Smart Protection for the Place You Love Most
Understanding Condo & Co-op Ownership
In the bustling landscape of New York real estate, condos and co-ops offer unique ownership experiences. While both provide a sense of community and shared amenities, they differ in structure:
Condo Owners: Hold title to their individual units and share ownership of common areas.
Co-op Owners: Own shares in a corporation that owns the building, granting them the right to occupy a specific unit.
Regardless of the structure, both require specialized insurance to protect personal property, interior improvements, and personal liability.
Coverage Highlights
Dwelling Coverage (Additions & Alterations)
Purpose: Protects interior elements like flooring, cabinetry, and built-in appliances. Note: Especially crucial for units with custom renovations or high-end finishes.
Personal Property Coverage
Purpose: Covers belongings such as furniture, electronics, and clothing. Tip: Consider additional coverage for valuables like jewelry or art.
Personal Liability Insurance
Purpose: Provides protection against legal claims for bodily injury or property damage to others. Example: If a guest slips and falls in your unit, this coverage can help with legal fees and medical expenses.
Loss of Use / Additional Living Expenses (ALE)
Purpose: Covers temporary housing and related expenses if your unit becomes uninhabitable due to a covered loss.
Loss Assessment Coverage
Purpose: Protects against unexpected assessments from the association for shared property damage or liability claims.
Enhanced Protection Options
Flexible Blanket Coverage
- Benefit: Combines dwelling and personal property coverage into a single limit, allowing flexibility in claim allocation.
Extended Replacement Cost
- Benefit: Provides additional funds (up to 150% of the policy limit) to rebuild or repair your unit after a total loss.
Water Backup Coverage
- Benefit: Covers damage from sewer or drain backups, which are typically not included in standard policies.
Pet Damage Coverage
- Benefit: Offers protection against damage caused by domestic animals within your unit.
Why United Coverage?
- Personalized Service: Tailored insurance solutions to fit your unique living situation.
- Expertise: In-depth knowledge of condo and co-op insurance requirements in New York.
- Trusted Partners: Collaborations with top-rated insurers to provide comprehensive coverage options.
Secure Your Urban Investment
Protect your condo or co-op with a policy designed to meet the specific needs of urban living. Contact United Coverage for a personalized insurance quote.
Let’s Talk Coverage That Works
