Insurance for condominiums

Insurance for condominiums

Condo insurance is usually set up on the base of the condo owners association’s decision and becomes a part of the condominium budget or is settled by the condo owners proportionally with their properties.

In general, the following risks are included in the contract without optional additions:


– Fire and elemental forces;

– Falling foreign objects, collision with a foreign vehicle;

– Heavy Rain;

– Flooding;

– Earthquake;

– Glass breakage;

– Burglary and robbery, vandalism (in this case, however, it is worth checking the rules of the condominium insurance contract for movables, as often only an average amount is included in the contract per apartment and higher value assets, devices, works of art are often excluded);

– water damage.


Additionally, on the base of structure, environment and demands of the condominium, you can consider the following risks as optional subjects for insurance:


– liability insurance;

– Elevator-related damage and breakage insurance;

– Insurance of solar collector or solar cell;

– Coverage of boilers, electricity meters or gas meters related vandalism;

– Damage to building accessories;

– Vandalism, graffiti;

– Damage caused by pests, the cost of wasp extermination;

– Insurance for jointly owned movables;

– Occasional emergency response service arranged by the house master;

– Common garden extension.


The insurance of movables or risks of individuals not covered by condominium contracts worth being arranged in the form of homeowners insurance issued per resident and tailor-made to the needs of each resident.