What Are the Best Insurance Companies for Condo Associations?

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The best insurance companies for condo associations typically offer a variety of coverage options and customize their policies to meet the specific needs of each community. They also have experience working with condo associations and understand these types of organizations' unique challenges.

When choosing an insurance company for your condo association, it is important to compare rates and coverage options. You should also ask about any discounts that may be available.

We help you compare the top insurance companies for condo associations and provide tips on saving money on your community's insurance policy.

If you are looking for the best insurance company for your condo association, contact us and we will be happy to help you find the right policy at the best price.

Recommended Policy Types for Condo Associations

Type of Insurance	What It Covers
Property insurance	This coverage protects the physical structures of your community, such as the building itself, common areas, and any equipment or furniture owned by the association. It can help pay to repair or replace damaged property after a covered event, such as a fire or severe weather.
Liability insurance	This coverage can help protect your condo association from lawsuits alleging that your property or the actions of your employees or volunteers caused someone else to be injured or their property to be damaged. It can also help pay for legal defense costs if you are sued.
Workers' compensation insurance	If your condo association has employees, this coverage can help pay for medical expenses and lost wages if they are injured on the job. It can also help pay for legal defense costs if you are sued by an employee who claims their work duties caused their injury.
Umbrella insurance	Umbrella Insurance can provide additional protection above and beyond the limits of your other insurance policies. It can help pay for damages if you are sued and found liable for more than your policy limits.
Business interruption insurance	This coverage can help your condo association stay afloat financially if you are forced to close temporarily due to a covered event, such as a fire or severe weather. It can help cover lost income and expenses, such as rent or mortgage payments, utilities, and payroll.

Best Insurance Companies for Condo Associations

Our skilled team of insurance experts has evaluated the top insurance companies for condo associations. We considered various factors, including coverage options, discounts, customer service, and financial stability.

Here are our picks for the best insurance companies for condo associations:

#1 Union Standard

★★★★★ - Elemental Risk Rating

Founded in 1975, Union Standard is a leading insurance provider for condo associations. They offer a variety of coverage options and customize their policies to meet the specific needs of each community. They also have experience working with condo associations and understand these types of organizations' unique challenges.

Union Standard offers condo associations property, liability, workers' compensation, umbrella, and business interruption insurance. They also offer a variety of benefits, including generous discounts for associations that have been in good standing for three years or longer.

#2 Travelers

★★★★ - Elemental Risk Rating

Travelers is one of the oldest and largest insurance companies in the United States, with a strong focus on property and casualty insurance. The company offers a wide range of product options, including both standard and specialized coverage plans. Travelers is also known for its excellent claims handling process, which has earned the company a solid reputation among policyholders. For these reasons, Travelers is a good choice for condominium insurance.

The company's standard condominium insurance policy provides comprehensive coverage for both the unit owner and the association, including protection against fire, theft, water damage, and personal liability. In addition, policyholders can choose to add optional coverages such as earthquake and flood protection. Travelers also offers discounts for condominium associations that have implemented risk-management programs.

#3 The Hartford

★★★★ - Elemental Risk Rating

Known for its superior customer service, The Hartford is a good choice for condo associations looking for a reliable and reputable insurance company.

What sets The Hartford apart from other insurance companies is their Condo Care Coverage, which is designed specifically for condominium associations. This coverage protects the common areas of the condo complex and the association's personal property. It also includes liability coverage, workers' compensation, and business interruption insurance.

Compare Condo Insurance Quotes

Now that you know more about condominium insurance, it's time to start shopping for a policy with the help of Elemental Risk Management.

Use our convenient online tool to compare quotes from the top insurance companies in just minutes. Alternatively, you can contact our team of insurance experts, and we'll be happy to help you find the right policy for your needs.

Get started today and protect your condominium association from the financial consequences of a covered loss.