Ohio Condo Insurance

Find the Best Condo Insurance Rates & Companies in Ohio 

Many Ohio residents enjoy the conveniences of condo living. Condo owners can appreciate amenities and common areas without the hassle of lawn care and other routine maintenance. However, having the necessary protection for your personal property and liability is essential to prevent hefty out-of-pocket costs. That means getting equipped with a complete condo insurance policy.

Fortunately, a local independent insurance agent in Ohio can help you find all the condo insurance you need. Your agent can get you set up with a policy today. But first, here's a review of Ohio's condo insurance requirements, average costs, coverage options, and more.

Best Condo Insurance Companies in Ohio

When shopping for condominium insurance in Ohio, you want to know where to start looking for top-quality coverage. Here are a few of our top picks for the best condo insurance companies in Ohio for your convenience. Check into the coverage offered by these outstanding carriers first.

1. Stillwater: This insurance company sells condo insurance and many other types of personal and business insurance. Stillwater has excellent ratings from AM Best and the Better Business Bureau (BBB), offers coverage nationwide, and provides 24/7 claims reporting.
2. Progressive: This insurance company sells condo insurance and many other types of personal and business insurance. Progressive has a superior financial strength rating from AM Best, offers many discounts, and provides 24/7/365 customer service.
3. Travelers: This insurance company sells condo insurance and many other types of personal and business insurance. Travelers is a longstanding carrier in the industry, has outstanding ratings from the BBB and AM Best, and offers many discounts.

An Ohio independent insurance agent can help you find your ideal condo insurance policy, whether from one of these carriers or others in your area.

What's the Difference Between HO3 and HO6 Insurance?

Condo insurance, also called HO6 insurance, is another type of homeowners insurance. A condo insurance policy covers your personal property and belongings as well as your liability, but not the structure or dwelling of the home itself. 

HO3 insurance, on the other hand, includes protection for the home's structure and foundation as well as personal property and liability. Dwelling coverage isn't necessary for condo owners since the homeowners association's master policy includes coverage for each condominium's structure and foundation.

Is Condo Insurance Required in Ohio?

Though Ohio state law doesn't mandate condo insurance, you may still be required to have coverage. Mortgage lenders almost always require condo insurance. Further, your condo association may require condo insurance. Regardless, having a condo insurance policy can provide essential reimbursement after an unexpected disaster like a lawsuit or a fire. Otherwise, you could face hefty financial losses if you lack coverage.

What Does Condo Insurance Cover in Ohio?

In Ohio, like most anywhere else, condo insurance typically provides coverage for your personal property, liability, and additional living expenses. Ohio condo insurance often includes the following types of protection:

• Contents coverage: This can pay for repairs or replacements of your personal property if it gets stolen, vandalized, lost, damaged, or destroyed by a covered peril like hail.
• Liability coverage: This can pay for lawsuit-related expenses if a third party sues you for bodily injury or personal property damage.
• Loss of use coverage: This can pay for additional living expenses (e.g., hotel rooms, takeout meals, laundry services, and extra gas mileage) if you're forced to live somewhere else while your condo undergoes repairs after a covered disaster like a fire. 

Your Ohio independent insurance agent can help you find a condo insurance policy that includes all the protection you need for your unique property and liability risk.

What's Not Covered by Ohio Condo Insurance?

Take some time to review what's not covered by your Ohio condo insurance before you ever attempt to file a claim. In Ohio, condo insurance typically excludes the following costs and disasters:

• Intentional or malicious acts against third parties
• Water or sewer backup damage
• Flood or earthquake damage 
• Insect damage or infestation
• Routine maintenance expenses

If your condo may experience flooding at any point, you might want to get a separate flood insurance policy. You can also often purchase endorsements for water or sewer backups to add to your condo insurance.

How Much Does Condo Insurance Cost in Ohio?

Ohio's average condo insurance rates come in well below the current national average of $455 per year. In Ohio, condo insurance costs just $330 per year, on average. However, understand that your policy's premiums may vary based on the following criteria:

• How much coverage you need
• The total value of your personal property
• Your deductible amount
• Your exact location
• Your personal claims history

Be sure to ask about common condo insurance discounts in Ohio to possibly save even more money on your coverage.

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