Your Condo Insurance Matters More Than Ever

Many condo owners assume that the HOA’s master insurance policy fully protects their home. In reality, your personal homeowner’s policy plays a critical role in protecting both your property and your financial security.

Owners are responsible for damage inside their own units and may also be financially liable for damage caused to other units or common areas. This often includes problems originating from fixtures and components that owners are responsible for maintaining such as water supply valves, toilets, sinks, dishwashers, washing machines, refrigerators with water lines, and similar plumbing fixtures. It is important to carry liability coverage for unforeseen events as Homeowners are still liable for damages even if their insurance carrier denies coverage.  A full list of owner-maintained components can be found in Exhibit A of the CC&Rs.

For this reason, it is essential that owners carry adequate property coverage for their own unit and strong liability coverage in case damage extends beyond their home. Water leaks in particular can quickly impact multiple units and lead to costly repairs.

Regular preventive maintenance is equally important. Periodically inspecting hoses, valves, seals, and appliances can help prevent leaks and avoid significant damage.

It’s also worth noting that home insurance has become more challenging and expensive to obtain in California, with many insurers tightening underwriting standards or limiting coverage. Now is a good time to review your policy, confirm your coverage limits, and speak with your insurance agent to ensure your protection is up to date.

Being informed and properly insured helps protect not only your own home — but your neighbors and the entire community as well.