Condo Insurance in Maryland

Investing in a condo is a fantastic option when you're tired of renting but aren't crazy about the thought of a single-family home. Whether you're already a condo owner or thinking about purchasing one, you'll need condo insurance to protect your investment from a host of unknowns. If you’re wondering how condo insurance works, what makes it different from other types of property insurance, and why it's a smart investment, WSMT Insurance is here to help.

Your condo association probably maintains its own insurance coverage for the building and grounds of your condo itself, but that doesn't mean your entire space is covered. Condo insurance, much like renters insurance, is designed to provide liability coverage and protection for your personal belongings in the event of theft or damage. The protection of condo insurance also extends beyond what a renters insurance policy would – it usually covers the interior walls and fixtures of your space as well.

Renters insurance typically only offers liability and coverage for your personal belongings, up to a specific limit. Liability insurance is great to have, but it won't keep you covered if someone breaks into your condo or if your belongings are damaged. Home insurance covers the structure of a home and its fixtures both inside and out, as well as the property inside. However, because condo owners are not responsible for exterior features of their homes (as this is typically the responsibility of the association), full-fledged homeowners insurance is unnecessary. In short, condo insurance is tailored precisely for the unique concerns that condo owners face – without the unnecessary coverages that drive prices up.

Are you in need of condo insurance for a new or existing property? WSMT Insurance has been writing condo policies for years, and we'd love to work with you to make sure your residence is covered. Contact us today or stop by our office for more information about condo and renters insurance in Maryland.