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Into the details: Condominium Insurance


'Condo' insurance is a policy that is purchased by the owner of a condo unit. It generally helps pay to repair your unit and your belongings if they are stolen or damaged by certain perils, such as fire or vandalism.


When is Condominium Insurance typically needed?

  • There’s damage to the interior of your unit. As a condo owner, you don’t own the building. But you do own your unit, often including fixtures such as lighting, cabinets and appliances.

  • Your belongings are stolen.

  • A guest gets hurt in your home. If a visitor trips and falls on a staircase inside your unit, personal condo insurance can help cover his or medical bills and your liability costs if you’re sued.

  • You can’t live in your condo due to damage covered by your policy. If fire damage or another issue covered by your personal condo insurance policy makes your unit uninhabitable, the insurer will pay for expenses related to living elsewhere, such as hotel room bills.

  • The damage exceeded the HOA’s policy limit. If your HOA surpasses If fire damage or another issue covered by your personal condo insurance policy makes your unit uninhabitable, the insurer will pay for expenses related to living elsewhere, such as hotel room bills.d your condo insurance, this sum may be partially or totally covered.

What will Condominium Insurance pay for?


Typically, a policy would cover damages caused by fire and smoke, explosions, wind and hail, theft, vandalism, lighting or a burst pipe.


What would Condominium Insurance NOT pay for?


Earthquakes, floods, intentional injuries to others, nuclear hazards or damage from birds and rodents.


Are you unsure if you should opt for a condominium insurance policy? Get in touch HERE and our dedicated team will assist you.

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Max Insurance Brokers Limited, company registration number C50394, is an enrolled company in the Brokers List to act as an insurance broker under article 13 of the Insurance Intermediaries Act (Cap. 487) and is regulated by the Malta Financial Services Authority (MFSA).

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