Condominium Insurance in Chicago, IL
Owning a condo in Chicago offers a blend of independence and community living. However, when it comes to insurance, it’s important to know where your condo association’s coverage ends and yours begins. At Illinois Insurance Family, we help condo owners throughout the city find policies that align with their building rules, lifestyle and financial priorities.
What Does Condo Insurance Typically Cover?
While your condo association typically carries a master policy that covers shared spaces and structural elements, your individual unit still needs its own insurance. A standard condo insurance policy may include the following:
- Personal property coverage can help replace your belongings—like furniture, electronics and clothing—if damaged or stolen.
- Liability coverage may help if someone is injured in your unit or you’re held responsible for property damage to others.
- Improvements and upgrades coverage may assist with repairs to additions or upgrades you’ve made, such as built-in shelving or new flooring.
- Loss of use/additional living expenses can help with temporary living costs if your unit becomes uninhabitable due to a covered event.
- Loss assessment coverage may help pay your share of costs if your association issues a special assessment following a covered loss to shared property.
Coverage can vary depending on your condo association’s master policy, so it’s important to review those details before finalizing your plan.
Tailored Coverage From a Chicago-based Team
At Illinois Insurance Family, we understand how to align your condo insurance with the realities of living in a dynamic city like Chicago. Whether you live in a high-rise downtown or a low-rise building in Lincoln Park, our local agents can help you assess your coverage needs and explore options from top carriers.
Contact our Chicago office today to request a condo insurance quote or schedule a policy review with our team.