North Carolina Condo Insurance

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From Raleigh to Charlotte and everywhere in between, every town in North Carolina seems like a great place to settle. And what better to settle in than an affordable condo overlooking the mountains, set off the beach or in downtown of the bustling city of Charlotte. Even if those aren’t your go-to choices, every condo owner in the Tar Heel State needs to protect their investment with adequate North Carolina Condo insurance.

It helps to protect everything you own and keep in your unit, as well the unit itself. Think about it. If you invest in condo insurance in Raleigh North Carolina to protect your unit, you’re also protecting your financial future. If a covered peril damages or destroys your unit or belongings, your HOA master policy won’t step in to help. It’ll be your North Carolina HO6 condo insurance policy that becomes your best friend.

What Insurance Do I Need for a Condo in North Carolina?

Personal Property

☘ 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.

Loss of Use

☘ 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. 

Personal Liability

☘ 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.

Medical Payments

☘ 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.

Loss Assessment

☘ 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.

Building Property Protection

☘ 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.

What’s the Average Cost of Condo Insurance in North Carolina?

North Carolina condo insurance will only set you back about $30 per month, which is well below the national average for condo insurance. That’s just $400 for all the coverage you need! With the excessive number of perils the state faces, like hurricanes, lightning storms and even snow in the mountains, that’s a sweet deal for North Carolina condo insurance.

How to Get the Best Condo Insurance in North Carolina for Cheap

We developed an intuitive insurance quoting tool that makes finding, adjusting and securing your North Carolina condo insurance coverage limits and premium prices super easy. Plus, our team of best-in-class licensed agents is always here to answer every question you may have along the way and about your policy. What are you waiting for? Getting a quote is quick, easy and free.

A Simpler Way to Get Condo Insurance

Protect everything your condo association doesn't with a custom condo insurance policy at an affordable price.

The editorial content on Clovered’s website is meant to be informational material and should not be considered legal advice.