Condo insurance is a valuable asset in protecting your home and maintaining its value over time. In some situations, it may even cover flooring replacement. That said, your coverage doesn’t include upgrades or changes made purely for aesthetics. There are, however, certain covered events where it can offer important protection.
If you’re unsure what your coverage includes, contact our team at Rowledge & Falvo Insurance Agency. We offer condo insurance in Scotia, NY, and the surrounding areas.
When Condo Insurance Can Help with Floors
Condo insurance will only cover flooring replacement when a covered peril causes the damage. A covered peril is something your policy specifically identifies as protected. Under most HO-6 condo insurance policies, this includes situations such as sudden water damage from a burst pipe or a fire caused by your home’s electrical system. It may also cover flooring damage from vandalism or theft committed by someone who doesn’t live in your home.
If your association carries a master policy, it may cover flooring in limited situations. These are often called single-entity or all-in master policies, and they typically cover flooring only in the event of a covered loss. This protection generally doesn’t apply if your association carries a bare-walls policy instead.
When It Does Not Cover Damage
Your condo insurance typically doesn’t cover changes to the color or type of flooring, nor does it cover flooring that’s simply worn from normal wear and tear. In these situations, a claim generally isn’t an option.
Unsure What Your Needs Are?
Call Rowledge & Falvo Insurance Agency now to learn more about the types of coverage we offer. We can help you find condo insurance in Scotia, NY, that fits your home.
