It’s a type of homeowners policy that’s tailored to your condo or co-op.
When you’re looking to buy, lenders will often say you need dwelling coverage or hazard insurance. A USAA Condo Insurance policy can help you make sure you have the right coverage.
It can cover things like personal liability, your stuff and if you can’t stay in your condo after a covered event.
A condo policy usually won’t protect the grounds, shared spaces and the outside structure of your condo. Your condo association’s master policy will often cover those.
This helps pay to repair or replace your things if they’re stolen or have covered damage.
Covered claims can pay to repair the interior of your condo, including countertops, floor and wall coverings, and property upgrades.
Personal liability may help cover you when you're legally responsible for someone’s accidental injury or property damage.
You may be covered up to $50,000 if your association charges you an assessment for repairing damage to common areas.
If your condo becomes unlivable after a covered event, loss of use coverage helps reimburse you for a hotel and additional living expenses while your home is repaired.
This can pay $5,000 toward costs related to identity theft and financial fraud.
This helps cover medical expenses for people other than you and your family who may be injured at your condo.
It depends on what your condo association’s master policy covers and doesn’t cover.
For example, you may need more protection for your building items if your association has little to no coverage for the interior of your unit.
You may want to pick a liability limit based on how much your assets are worth. And your personal belongings limit should be enough to cover the value of all your stuff.
Before you buy condo insurance, reach out to your condo association to find out which of these master policies they have.
This covers the exterior of the building and any common areas like hallways, lobbies and recreational amenities.
This helps protect everything a bare walls policy does but can extend to the interior of your unit, up to its original design. It won’t cover any improvements you or any previous owners made.
This can cover the condo’s exterior, common areas, the interior of your unit and property upgrades.
We'll cover your things at today's replacement cost with no depreciation. See note 2 That means, for example, if your old TV has covered damage, your policy will pay you enough to repair it or buy a new one. You just pay your deductible.
You’ll get up to $10,000 in coverage for your uniforms, equipment and personal property, even when you’re deployed. And you won’t pay a deductible. See note 3
USAA Condo Insurance ranks among the top home insurers for its customer experience. As a USAA member, you'll get quality coverage and exceptional service.
When you get your quote, you can explore some of these ways to save on your policy.
Save up to 10% off your premium when you bundle condo and auto insurance. See note 4
Install smart home devices that detect water leaks, smoke and more to get a discount through the USAA Connected Home program. See note 5
Save up to 5% with a monitored fire alarm or home security system. See note 6
Save up to 15% after five years without a claim. See note 7
Find a skilled contractor to help with home repairs. See note 8 Plus, get discounts for home services and other things for your condo through USAA Perks®.
Home and renters policies cover losses like theft, vandalism, fires and most weather-related damage. Our electronics coverage options offer protection for more common accidents. See note 9
So if you accidentally damage or lose your laptop, we'll help pay to repair or replace it up to your coverage limit.
Steps to complete How the condo claims process works
A condo claim can take longer because we have to verify the master policy doesn't offer coverage.
We’ll send your payment minus your deductible.
We might suggest a contractor, or you can choose your own.
Also known as VPP, this policy gives you extra coverage for things like jewelry, guns and more. And there's no deductible.
Just like homeowners insurance, condo policies don’t cover floods. Consider a policy, even if you don’t live in a flood-prone area.
This policy may pick up where your condo liability coverage leaves off. It can help pay for the rest of a covered claim after you reach your condo policy’s limit.
The main difference is homeowners insurance also covers damage to the outside structure of your home. Your condo policy doesn’t because the condo association’s policy usually does.
Otherwise, condo coverage can cover the same things as homeowners insurance, including your personal stuff, liability and temporary living expenses.
It depends. If you own the entire structure of your townhome, you’ll need homeowners insurance.
But if a condo association owns the exterior, you may want to get condo insurance.
It may if your condo is damaged by something sudden and accidental, like a burst pipe or water heater. It doesn't cover water damage that's happened slowly over time or as the result of flooding.
If the leak comes from a common area, like a shared roof, your association’s master policy could help pay to repair it.
Be sure to review both policies to understand exactly what’s covered.
Home sharing coverage See note 10 is standard on a condo policy to help protect you and your guests.
If you rent out your home for a long period, you may need USAA Rental Property Insurance, also known as landlord insurance.