Condo Insurance in Idaho

Experts break down Idaho condo insurance costs, coverage, companies and more

Modern living room and kitchen interior of condo with nature view. Find Idaho Condo Insurance.

Idaho is one of the fastest-growing states in the US, adding more than 53,000 residents annually in recent years. Despite its continued population growth, purchasing a condo is still an affordable housing option for Idahoans. 

Living in a condo still requires adequate insurance for your possessions and parts of your housing unit you're responsible for. Working with a local independent insurance agent can ensure that you find the best condo insurance in Idaho without any hassle. 

How Much Does Condo Insurance Cost in Idaho?

Idaho condo insurance premiums are $405 a year, which is slightly lower than the national average of $488. Condo insurance is much more affordable than traditional home insurance because you do not need to worry about covering the structure of your building, outside, or common areas. 

There are still several factors that will impact your Idaho condo insurance premiums, including:

  • How much coverage you need
  • The size of your unit
  • Location in the state
  • Potential risks
  • Local crime rates
  • Deductible
  • If you need any specialty add-on coverages

A local independent insurance agent can go through the factors that may impact your rates and discuss any potential discounts you may qualify for. 

What Does Condo Insurance Cover in Idaho?

Condo insurance is designed to cover three main things: the contents of your condo, if a third party is injured while visiting your home, and if you're displaced from your condo by a covered event.

Your Idaho condo insurance provides these coverages in the following policies:

  • Personal property coveragePays for any damage to furniture, electronics, jewelry, and other personal property from covered events such as fires, storms, or crimes. It will also pay for parts of your condo you're responsible for such as toilets, fixtures, ceiling fans, and flooring. 
  • Liability insurance: Should a visitor slip in your kitchen and need medical attention, you could be liable for the medical bills and any other fees associated with the injury. Liability coverage pays for injuries and potential legal costs if necessary.
  • Relocation assistance: Should a fire, storm, or break-in cause enough damage to displace you from your condo, relocation coverage will help pay for costs associated with temporary accommodations. 

Should you need extra coverage for things like flooding or earthquakes, your independent insurance agent can help you find specialty add-ons for your policy.

Is Condo Insurance Required in Idaho?

Condo insurance is not required by law in Idaho, but going without it could result in costly disasters. If you need a loan to purchase your condo, the lender will likely require you to have insurance as well. 

When deciding to purchase condo insurance, it's important to understand the difference between your condo association coverage, called an HOA master policy, and your condo insurance coverage. 

  • HOA master policy: The HOA master policy breaks down the insurance coverage that you receive from your condo association in a covered event. Typically, the master policy will include coverage for the exterior of your condo and common areas. Occasionally it will provide coverage for interior walls, which would include water lines, sewage, and electric lines.
  • Condo insurance policy: Your condo insurance policy is purchased separately and provides coverage for everything inside your unit, including structural features and your personal possessions. 

You cannot opt out of paying your HOA fees, and we highly recommend you don't opt out of purchasing condo insurance either. 

What Are the Best Condo Insurance Companies in Idaho?

When shopping for insurance companies that provide coverage for condos in Idaho, you'll have several options across the state. You'll want to look for a company that has a reputation for great customer service, has a convenient claim filing process, and offers affordable rates.

Fortunately, local independent insurance agents work with the best condo insurance companies in Idaho daily. They'll only connect you with the top options for your needs and help guide you in a final decision. 

How Can a Local Independent Agent Help Me Find the Best Condo Insurance Policy?

As more people enter the state of Idaho, the housing market is changing daily. Independent insurance agents stay up-to-date with the risks you face as a condominium owner in Idaho. They're also local to the area and know the top carriers to work with. 

Talking with an agent is free and convenient. They'll get to know you and your insurance needs and then shop customized condo insurance quotes in Idaho from top-rated insurance companies.

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