Condo insurance helps you protect your personal property and any additional parts of your unit that are not covered by your condo association's insurance policy. Velox Insurance works with major carriers so we can get you the best price on insurance coverage for your condo.
Contact your local agent or give us a call at 1-855-Go Velox (468-3569) to start saving money on your condo insurance today.
Below are some of the coverages provided by typical condo policies. Your Velox Insurance agent will help you assess what type of coverage is best for your needs.
There are plenty of ways for you to save money on your condo insurance. Here at Velox Insurance, we make it possible for you to access a dependable coverage at an affordable rate. See whether you qualify for our discounts.
Full Payment Discounts
Just like other insurance policies, you may be eligible for additional discounts if you pay your condo insurance policy in full. Not only will you save money, you also wouldn’t have to worry about additional expenses for the rest of the policy period!
Multiple Policy Discounts
Get other insurance policies from us along with your condo insurance to save more money. If you can bundle it up with the same carrier you use for car insurance, boat insurance, or other insurance policies you have through us you may earn extra discounts!
Fire Fighting Devices Discount
If there arefire fighting devices installed (fire alarms, sprinkler system, fire extinguisher, and etc) in your condo, you may be entitled to additional discounts.
Burglar Alarm Discount
Burglar alarms don’t only protect you from thieves, they can also help in lowering your condo insurance rates.
Construction Date Discount
You can also get discounts by simply declaring the age of construction of your building.
To know more about the different discounts we offer, call us at 1-855-468-3569 or contact your local Velox agency.
How does condo insurance work?
The condo association’s master policy only covers the damages to the external structure of the condo building. Therefore, personal possessions, appliances, and other installed fixtures inside each of the units are not included in the policy. So if you want these valuable items to be protected, you might as well purchase a condo insurance policy.
Is theft covered by condo insurance policies?
Theft or burglary will be covered by your condo insurance if you’ve signed up for personal property coverage. However, you should know that there are items that may be excluded or may have limitations where you need to get additional riders to be fully covered on items like expensive jewelries, art collection, and other valuable items.
How much insurance coverage should I get for my condo?
The amount of coverage you should get will actually depend on your needs. Do an inventory of your items and assess how much it would cost to replace your personal items after a fire or burglary.
How are condo insurance rates calculated?
- Your condo insurance rate is determined by the following factors:
- How much it would cost to rebuild your condo unit
- How much your homeowners association (HOA) policy covers
- The worth of your personal possessions
- The location of your condo
- The overall condition and age of your condo
- The pets you own
- Personal claims history
Does the condo insurance policy cover water damage?
Your coverage on water damage largely depends on the source of the problem. You’re usually covered when the reasons for water damage are burst pipe, water backup, and leaky roof.
For more information about our condo insurance policies here at Velox, call us at 1-855-468-3569 or visit our office nearest you.
Anything can happen anytime. Be prepared and protect your condo with our reliable condo insurance policy. We offer protection against weather damage, accidental damage, theft, vandalism, and more; all at a very competitive rate. You can also save on insurance rates by qualifying for discounts.
Our policies are designed in a flexible manner to better serve your needs. Buy condo insurance from us now and enjoy worry-free living! Call us at 1-855-468-3569 or contact your local agency for a condo insurance quote today.