Georgia Condo Insurance

Condo insurance in Georgia is commonly called an HO6 policy, which is just legal jargon for what’s known as a walls-in policy. This simply means that nearly everything inside of the walls of your condo, including the walls and anything built into the walls, are covered by your condo insurance policy in Georgia. But let’s take a look at exactly what’s covered, how much you can expect to pay and much more.

☘ Since it’s a walls-in policy, meaning only what’s inside the four walls of a condo are typically covered, an HO6 begins with coverage for personal belongings. This helps to protect items you keep inside your home, such as clothing, computers, furniture and TVs. Since condo owners don’t own the property outside their unit, belongings that are permanently kept outdoors may not be covered.

☘ If a peril occurs that damages or destroys your condo, causing you to temporarily move out, loss of use can help to cover monthly rent at an equivalent home, storage fees, pet boarding and many other expenses you wouldn’t have incurred had you been living in your unit. Since your neighbors may not be as careful as you, loss of use is pivotal in protecting your wellbeing. 

☘ If an accident occurs to a guest in your condo unit and you’re deemed liable, personal liability coverage can step in and help pay for medical bills and legal expenses for major incidents like dog bites, broken bones or even accidental death. For condo owners, personal liability is typically the highest amount of coverage you’ll maintain.

☘ MedPay, as it’s often called, is similar to personal liability in that it covers injuries that occur on your property. But with medical payments coverage, only medical bills for minor injuries will be paid — no matter whether you’re at fault or not.

☘ If the condo’s master HOA policy maximums don’t pay for significant damages or incidents, each owner will have to pay a special assessment. This add-on protects policyholders from paying significant special assessment fees handed down by the condo complex.

☘ Condo insurance is a walls-in policy, so you don’t have to protect the building’s structure. But building property protection protects the walls and interior of your condo unit if they’re damaged or destroyed by a covered peril, which is important since you may have many neighbors.

The average condo insurance cost in Georgia is about $40 per month or $480 per year. This price depends on a multitude of factors, including your condo’s cost, location and your policy’s maximum coverage amounts.

If you live on the banks of the Atlantic Ocean, you’ll face greater risk from hurricanes than inland condos. Adversely, if you live in the rolling hills that turn into mountains, lightning strikes may be your biggest risk. Different perils dictate different prices, but you can always get a condo insurance quote from Clovered to choose from a few different policies at affordable prices.

When getting a condo insurance online quote in Georgia, all you need to do is enter your address and a few details in Clovered’s quoting tool. We’ll do the leg work and pair you with a few different policies from a few different companies in minutes.

Seriously, getting a Georgia condo insurance quote online is as easy as filling out a few details and letting us do the rest! Plus, you get best-in-class service with our team of licensed agents that are always there to answer any questions you may have.