When buying condo insurance it is important to learn about the coverage between different policies and what the Master Policy will cover. Many people think that the Master Policy is the only insurance that they need to protect their condo. Owning a policy that is separate from the insurance policy of the Condo Association guarantees that your condo is secure from loss.

Here are a few things to be aware of when it comes to your condo insurance policy and what to look for when purchasing one.

Master Policy Coverage

Master Policies that are split among the owners The Arden Showflat or renters of the condominium only cover a limited list of items. Most cover the common areas, grounds, and the building with liability insurance. This provides coverage in the event that anyone is hurt while on the property in public areas. The Master Policy does not cover the inside of each individual condo in regards to items, damage, or people becoming hurt.