Do I need a special type of policy if I rent out my condo?

Besides, having condo insurance can help protect your personal belongings inside your home and provide personal liability protection should any accidents occur ... Most homeowners and renters insurance does not cover flood damage. · The National Flood Insurance Program (NFIP) has coverage options to protect your home, ... Common areas of the building that you share with your neighbors like parking areas, lobbies, stairways or elevators are generally covered by the condo ... condo unit that is not otherwise covered by your condominium association's insurance policy. ... Your Policy Does Not Cover Losses Caused by. Fire and lightning. Homeowners insurance is to protect from things that can damage your home and personal belongings. Not only does homeowners insurance protect during an ... With HO-6 condo insurance, you still have dwelling insurance. But, with condo dwelling coverage, you're only covered for your interior walls and floors. The ... Jan 24, 2025 ... Floods can happen anywhere — just one inch of floodwater can cause up to $25,000 in damage. Most homeowners insurance does not cover flood ... Liability coverage is automatically included with your condo insurance and helps protect you if someone is injured on your property, you're responsible for ... What Is Condo Insurance? · Interiors: Covers walls, floors, and any interior upgrades such as fixtures and countertops · Personal Property: Protects belongings ... Jan 16, 2017 ... A condo policy will generally cover interior structures, such as cabinets, flooring and countertops within your unit's surrounding walls, but ...