Condominium Insurance in Chicago, IL
While your condo association’s master policy may cover exterior and shared spaces, it typically excludes your unit’s interior. You may be responsible for your own space and belongings, and costs can add up quickly after a loss. Universal Insurance Services helps Illinois condo owners fill these gaps with coverage tailored to their budget and goals.
What Is Covered by Condo Insurance?
Condo insurance, also known as HO-6 insurance, typically includes the following: 
- Interior structure coverage may address damage to the inside of your unit, including walls, floors and built-in fixtures, which can fall outside your condo association’s master policy.
- Personal property coverage may apply to belongings such as furniture, electronics and clothing if they are damaged or stolen in a covered event.
- Loss assessment coverage may help with your share of certain assessments from your condo association, such as repairs to shared areas after a covered incident.
- Liability coverage may help with costs if a guest is injured in your condo or if you accidentally cause damage to someone else’s property.
- Loss of use coverage may assist with extra living expenses if a covered loss makes your condo temporarily uninhabitable.
How Much Does a Policy Cost?
Rates can vary based on factors such as:
- Location: Your condo’s area and local risks, such as wildfire or theft exposure, may affect your rate.
- Discounts: You may be eligible for savings by bundling policies, using certain security features or maintaining a claims-free record.
- Deductible: A higher deductible may lower your premium, but increases what you pay out of pocket when you file a claim.
- Coverage amount: Higher coverage limits can lead to higher premiums.
Request a Quote or Learn More
Contact Universal Insurance Services today to get a personalized quote or to discuss your coverage options.