New York Condo Insurance coverage

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If you own a condo in New York, you probably have a master insurance policy with the building's Homeowners Association (HOA). In fact, you may feel as though because the structure is covered with this policy that you do not need additional coverage. However, the fine print on that policy will most likely reveal that only the external structure, hallways, and community areas are covered. What about the square footage that you own? Hagerdon Insurance Agency Inc. has a policy for your condo.

Personal Property

In most master insurance policies, condo owners can forget about personal property coverage. The HOA's concern is the community areas that are shared among owners. Once you open your condo door, the contents within that space are your responsibility should they suffer damages from theft or natural disasters. With a condo insurance policy, your contents such as your clothing, jewelry, and electronics are covered in the event of damage or theft.


Annually, some condo owners find themselves in a situation where they have invited guests over, but an accident occurred to either their property or their person, making the condo owner responsible for any financial damage. For those that do not have condo insurance, they find themselves faced with an outstanding financial obligation that could force them to sell their condo and other assets. Liability coverage is included with condo insurance.

Damaged Appliances

Since the master policy only covers external areas of the structure, a busted water pipe or damage to appliances due to structural damage could still become your responsibility since the damage is within the area that you own. With condo insurance, you can have the appliances replaced due to the damage.

Secure Your Condo Today

Now that you know the extent of that master HOA insurance policy, it is time to contact the agents at Hagerdon Insurance Agency Inc. for your New York condo insurance policy and secure your personal property within your square footage.