Condominium Insurance in Marrero LA

Condo insurance, often referred to as HO-6 coverage, is specifically tailored to financially protect the interior of a condominium unit, along with the owner’s personal belongings and liability. Unlike traditional homeowners insurance, which typically covers the entire structure, condo insurance focuses solely on the individual unit and what’s inside it.

How Does Condo Insurance Work?

Your condo association carries a master insurance policy that usually covers the building’s exterior, common areas such as hallways, elevators and lobbies, as well as shared amenities, including pools or gyms. A personal condo policy picks up where the master policy leaves off, covering what’s inside your unit and your personal liability.

What Does Condo Insurance Cover?

Condo insurance coverage can vary based on what each owner needs, but a standard HO-6 policy typically includes the following:

• Dwelling coverage helps financially protect the interior of your unit, including walls, flooring, ceilings and built-in fixtures. If a covered event, such as a fire or theft, causes damage, this coverage can help with repair or replacement costs.

• Personal property coverage is designed to safeguard your belongings, such as furniture, electronics, and clothing in the event of fire, theft or vandalism.

• Liability coverage may provide financial aid if someone is injured in your unit or if you accidentally cause damage to someone else’s property. It may help cover legal fees and related costs.

• Loss of use (additional living expenses) assists if your condo becomes unlivable due to a covered event. It may help pay for temporary housing, meals and other necessary expenses while repairs are made.

Is Condo Insurance Mandatory?

While Louisiana doesn’t legally require condo insurance, purchasing one is strongly recommended. If you’re financing your condo with a mortgage, your lender will likely require you to carry condo insurance. This helps protect their financial interest in the property and your own.

If you live in or around Marrero, Louisiana, our team at Boudreaux & Associates Insurance Agency, Inc. is ready to work with you to create a policy that fits your needs. Contact us today to get started.