Get a Condominium Unitowners Insurance Quote
Your condo is one of the most important investments you'll ever make. To help protect it, you need the right kind of condominium unitowners insurance. With State Farm® condominium unitowners insurance, you can help protect your condo from fire, theft, and other covered causes of loss. We also offer a host of discounts1 for everything from multiple-line policies to everyday safety items.
Basics of Condominium Unitowners Insurance
Why You Need Condominium Unitowners Insurance
Condominium unitowners insurance insures your personal property and items of real property that pertain exclusively to your unit. Your association could have one of three policies: a policy that insures only the primary building and common areas; a policy that insures your building and any items in your unit other than personal property; a policy that insures the building, your unit, and any fixtures or improvements you make to your unit.
You deserve the personal service that only a good neighbor provides with the accessibility you count on. It’s also a good idea to meet annually with a State Farm agent to review your personal coverage because the association’s master insurance policy could change year-to-year without notification to you. An agent can help you choose the most appropriate protection plan – one that fits your lifestyle and your budget.
By getting a condominium unitowners insurance policy, you'll have more peace of mind knowing that State Farm is there to help protect you if a loss occurs.
What Does Condominium Unitowners Insurance Cover?
State Farm offers a number of coverage options so that you can get condominium unitowners insurance that fits your needs.
What coverages options are available?
Condominium Unitowners Insurance Covers:2
Examples not limited to:
- Fire or lightning
- Windstorm or hail
- Freezing of plumbing system
- Theft
What’s Not Covered by Condominium Unitowners Insurance?
A Condo Unitowners policy from State Farm provides comprehensive coverage, but it does not provide coverage for every loss.
Examples of losses not insured include, but are not limited to:
- Water damage caused by flood or underground water
- Earth movement including earthquake and mudslide
- Damage caused by settling, deterioration, contamination or nuclear hazard
- Damage caused by birds, rodents, insects or domestic animals
While the Condo Insurance Policy provides personal liability coverage, it does not provide coverage for every loss for which you may be liable.
Examples of exclusions include, but are not limited to:
- Bodily injury or property damage that is expected or intended by the insured
- Business pursuits
- Professional services provided or not provided
- Ownership, operation, use, or maintenance of aircraft, motor vehicles, and certain watercraft
Coverage Limits
Like all homeowners policies, unit owner policies have maximum limits the company will pay for loss to specified types of property (these limits can vary among companies). Here is a typical list of the types of property that may have "special limits" in a condominium unitowners policy:
- Money, bank notes, coins
- Business property
- Watercraft including trailers, furnishings, and equipment
- Trailers (other than boat trailers)
- Firearms (applies to theft only)
- Silverware and goldware (applies to theft only)
- Computers and data processing equipment
- Rugs, tapestries (theft only)
If you need higher limits for certain types of property, your State Farm agent can help.
The State Farm Advantage
Know the Value of Your Belongings
Have you ever added up the value of all your property — computers, electronics, jewelry, clothes, furniture, maybe even something particularly valuable like an engagement ring, art collection or musical instrument? You're probably looking at thousands of dollars. Could you afford to replace it all if it were stolen or damaged in a fire? A State Farm condominum unitowners insurance policy helps cover your property at home or on the go.
Estimate the value of your personal property. Once you've figured out what your property is worth, you'll know how much condominium unitowners insurance coverage you need.
Understanding Replacement Cost
Replacement cost for personal property is one of the most important aspects of condominium unitowners insurance. We provide two coverage options. Limited Replacement Cost Loss Settlement pays for the cost of your damaged property up to the limits of liability. A Depreciated Loss Settlement pays the cost to repair or replace damaged property minus the depreciation at the time of a loss.
Be sure to choose the option that best fits your needs.
State Farm Discounts
State Farm may help you save on condominium unitowners insurance with discounts for:
- A claim-free history
- Purchasing multiple State Farm products
- Home security devices
Simple Insights® by State Farm
Take advantage of what we've learned through the years in Simple Insights.
Moving? Don't Forget to Make Insurance Changes Too
Find out if you just transfer insurance to the new address or if you need new coverage.
Home Security: the Latest Burglar-Thwarting Options
The types of home alarm systems and how their features improve your home security.
Find an Agent
Footnotes
1 Discounts are subject to state availability and eligibility requirements.
2 This content is only a general description of coverages and is not a statement of contract. Details of coverage or limits vary in some states. All coverages are subject to the terms, provisions, exclusions, and conditions in the policy itself, and any endorsements. See your policy and any additional endorsement for exact coverage details or for further information, please see a State Farm agent.