The Best Condo Insurance Companies
Your condo association ’s master policy covers the building and common areas like hallways, elevators, electrical systems, and landscaping. Your condo insurance policy should complement the master policy and fill any gaps in coverage.
Finding a condo insurance company with the best coverage and customer service is only part of the equation. Policy premiums are also important.
It’s worthwhile to compare several competitor offerings before committing to a policy. That way, you can get the insurance coverage you need at a price you’re comfortable paying.
Liberty Mutual: Best Condo Insurance Company for Discount Savings
Liberty Mutual is one of the largest insurance companies in the world. It also presents a significant opportunity to save on premiums with condo insurance discounts.
Liberty Mutual Discounts
Your home is likely your most valuable asset. But you don’t have to drain your bank account to protect your investment. A condo insurance policy with Liberty Mutual can safeguard you from destruction and damage due to covered perils.
You could qualify for a discount of up to 12 percent. Coverage offerings and discounts can vary by state. Before signing on the dotted line, compare your quote with other companies to make sure you get the coverage you need.
Travelers: Best Condo Insurance for Most Experience
As one of the oldest companies in the insurance industry, Travelers has been around for more than 165 years. You can review and buy condo and homeowners insurance policies from Travelers online or in person with a local insurance agent.
Travelers introduced accident insurance in 1864, making it one of the oldest companies with the most experience.
It also brings condo insurance into the 21st century with its modern policy options. The company’s green home discount can cut up to five percent off your condo insurance premiums. It applies if your condo is certified as a “green home” by the Leadership in Energy and Environmental Design (LEED).
State Farm: Best Condo Insurance Company for Add-On Features
State Farm agents are available in all 50 states plus Washington, D.C. It also has some of the most comprehensive add-on options available.
State Farm Discounts
Your condo insurance policy from State Farm includes all the things you’d expect. It covers the unit, personal property, additional living expenses for loss of use, personal liability, and medical payments to others.
But what you might not expect are the variety of add-on options. You can customize your policy to get the protection you need. Extra coverage for floods, earthquakes, full replacement, umbrella insurance, and more are available.
Amica Mutual: Best Condo Insurance Company for Customer Service
If you’re looking for a condo insurance company with excellent customer service, look no further than Amica.
Amica Mutual Discounts
Condo insurance claims may not cover the cost to replace all of your personal property. But Amica offers additional personal property coverage to get more out of your policy. Choose from computer coverage, replacement cost, protection for valuable items like jewelry and fine art, and identity theft coverage.
In addition to the many add-on options, Amica Mutual prides itself on customer service. It has earned the highest customer satisfaction rating from J.D. Power for nine years in a row.
Allstate: Best Condo Insurance for Renting Out Your Home
Home-sharing is a popular way to earn money from your residence. Allstate ’s HostAdvantage option offers additional protection for your belongings if you decide to rent out your home.
Welcome and loyalty discount
Protective device discount
Easy Pay Plan discount
Responsible payer discount
As the second-largest homeowners insurance company in the U.S., Allstate has grown to offer many coverage options and discounts. The HostAdvantage program is one example. It’s a unique feature that you won’t find from most condo insurers.
If disaster strikes, you can use the online portal to file and track a claim. The claims process is often frustrating, but this makes it easy to see the progress. The company also scores above average in customer satisfaction, so you’ll likely get some of the best customer service.
USAA: Best Condo Insurance for Military Members and Their Families
The United Services Automobile Association ( USAA ) has great coverage options. However, its insurance products are only available to military members, veterans, and their families.
Protective device credit
Military members, veterans, and eligible family members can buy USAA condo insurance policies. The company offers a bundling discount of up to 10 percent when you combine your condo and auto insurance.
Discounts might not be available in all areas, and the company has limited local branches available. But USAA scores high in customer satisfaction, according to J.D. Power.
Hippo: Best Condo Insurance for Tech-Savvy Condo Owners
Hippo was founded in 2015 to make insurance more accessible and more affordable. The streamlined website lets you get condo and home insurance from Hippo.
Smart home discount
Gated community discount
Home security discount
Even though it’s a new company, Hippo earned an A- from A.M. Best. The process to get a quote is simple and only takes 60 seconds.
However, condo insurance from Hippo isn’t available in every state. Check availability to make sure it’s an option for you.