Allstate Condo Insurance

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Condominium Coverage Plan Made Easy

The insurance needs of condominium owners are not exactly the same as those of homeowners. Usually, the condominium corporation provides insurance for the building and its common areas such as the front lobby and the elevators. However, the condo corporation insurance may not provide all the coverage you require. Allstate condo insurance can serve as a good complement to the condominium corporation insurance by protecting you against liability, property damage and so forth. Allstate condo insurance covers a number of features such as additions and alterations, unit contingent coverage, loss assessment coverage, coverage against liability and also the protection of your personal property. Furthermore, Allstate agents are always available to guide you to the coverage option that suits your needs. They can answer any question you may have on the condo insurance.

Coverage Options

The condo insurance offers two optional coverages, namely, the VIP package and coverage. The VIP package covers all risk for contents and also replacement costs. It includes features like claims forgiveness, disappearing deductibles, and one free personalized option. The basic coverage covers contents for ‘named perils’ and also replacement cost.

  • The condo insurance covers for the needs not covered by your condominium corporation insurance.
  • The plan will protect you against liability if you accidentally cause property damage or if someone else is injured in your property.
  • The Allstate condo insurance policy covers additions and alterations, loss assessment coverage, unit contingency coverage, liability and also personal property protection.
  • The plan has two coverage options, namely, the VIP package and the basic coverage.
  • The VIP package covers all risks for contents (subject to contents excluded by the policy). It also covers replacement costs for replacing contents with items of similar value without depreciation.
  • The features included in the VIP package include claims forgiveness, disappearing deductibles and one free personalized loan.
  • The basic coverage covers contents for “named perils”. This is subject to the exclusions noted in the policy. It also covers replacement costs for replacing contents with items of similar value without depreciation.
  • The claims forgiveness feature guarantees that your insurance rates will not be increased or surcharged if you submit more than one claim every 5 years.

 

 

Additional resources

Learn more about related insurance from these informative articles.

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