In general, condos are insured by master policies that cover the basics, like common areas and physical structures. It's important to understand where the condo association's coverage ends and where your responsibility begins.
With Encompass condo insurance you can enjoy high limits and quality coverage. And with multiple tiers of protectionElite, Deluxe and Specialyou have the flexibility to choose the coverage that matches your needs and your budget. Encompass condo insurance includes:
Property location limit.
Some condo policies set individual limits on your home, its contents and other structures. These limits are percentages based on the actual value of your home and cannot be combined if one limit is insufficient to cover the loss. With our Elite and Deluxe condo coverage, limits are extended to cover your condo, its contents and outlying structuresgiving you the freedom to allocate your limit as needed for any covered loss, whether the covered damage is repaired or replaced altogether.1
Mortgage rate protection.
If a covered total loss requires a new higher-rate mortgage, we will cover the increased expenses including closing costs, mortgage acquisition fees and moreup to a total of $20,000.
Increased building costs.
If you need to rebuild after a covered loss, you'll be protected from increased reconstruction costs due to building codes that have changed and updated.
Personal injury protection.
This is a critical component of condo coverage and can protect you if you are sued for libel and slander.
Computer and data recovery coverage.
Protects your personal computer hardware and softwareincluding tablets, laptops, desktops and even includes data recovery.
Jewelry and fur coverage.
No riders or schedules necessaryEncompass condo insurance includes a portion of coverage for jewelry and fur, and even covers such items whether they're lost or stolen.
Water backup protection.
Water backup damage can unexpectedly cause severe problemsclaiming losses not only on your personal property, but also threatening your condo. While some carriers exclude this, we automatically include it in our Elite condo coverage. Plus, it can easily be added to any of our other condo coverage.
Talk to your local Encompass Independent Agent today to discuss the best coverage options to fit your condo needs.
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