Coop/Condo Insurance - Boyd Agency - Queens Village NY

Coop/Condo Insurance

Coop/Condo Insurance Information

Living in a coop or condo can relieve you of many responsibilities. For instance, you don’t need to mow the lawn or pay for exterior maintenance. If it snows, then you don’t have to shovel it. You can still have a major problem if you don’t have coop/condo insurance for your personal living space.

Master Policy

Most coop/condo associations have a master insurance policy. If you read it, you will find that all exterior components of the development are covered along with the common areas. This means your personal space is not covered, only the space used by everyone in the condo.


You might want liability coverage, especially if you have a lot of visitors. This will pay a person’s medical bills if they are injured within your living area.

Interior Damage
This coverage pays for damage that occurs inside your living space. It covers things such as fire or vandalism. Even a simple grease fire inside of your unit can cause considerable damage. And keep in mind your landlord is not responsible for your personal belongings.

Without a coop/condo policy that has theft coverage, you’re on your own if your home is robbed. Your landlord will not pay to replace anything.

Insurance Limits
Do an inventory on all of your personal property. That will give you some idea about how much coverage you need. Then talk with an insurance agent about how much insurance to get. If there are some high-priced valuables in your condo, then let your agent know because you might need extra coverage.

Don’t ignore your personal living area just because your condo association is insuring the outside. You need coverage for your area because it is no one else’s responsibility.