North Carolina Condo Insurance

Don’t assume you’re covered by your monthly fee!

Condos are a popular living arrangement for our neighbors in North Carolina and South Carolina, offering an easy-care option for seniors and busy young professionals, alike. Paying a monthly fee relieves the owner of many maintenance issues. But here’s a condo question we often hear: do I need insurance for my condominium? The answer is usually “yes.”


The confusion usually arises when condo residents pay a monthly fee and part of that fee goes to pay a condo association master insurance policy. “Master policy” sounds inclusive, so some condo residents are under the mistaken assumption that this provides sufficient coverage – but that is usually not the case. When a condo association has a master policy, it generally covers damage or liability associated with the common areas and the structures.


Coverage for contents within units and liability for your guests are your responsibility. The good news is that if your structure is covered by a master policy, your own coverage will be more affordable.


Every condo association has a slightly different arrangement for what the master policy covers, but it boils down to this: if you own a condo, you need to secure coverage for your own possessions and your own liability. If you have a mortgage, the lender might require insurance. If you rent a condo, you should look into renters insurance.

What North Carolina condo insurance typically covers

In North Carolina, condo insurance coverage is much like homeowners insurance, except the master policy usually covers the structure. Your condo policy covers your personal possessions, appliances, clothing, and other items you own. It also covers you for liability if someone is injured while in your condo or their property is damaged. Most policies also cover you for loss of use if your home becomes uninhabitable after a fire or a storm. It’s important to note that policies do not typically cover floods, so you may need flood insurance.


At Spivey Insurance Group, we insure hundreds of condos – we’d be happy to review your association agreement and help you understand what it covers, what it doesn’t, and what you need for protection. In addition to flood insurance, if you have valuables or special collections, you should talk to us about those, too. Property owners can sometimes benefit from umbrella coverage, which can be a cost-effective way to increase your coverage limits.

Talk to us!

There’s probably nothing that Spivey Insurance agents like more than helping our neighbors protect their homes. When it comes to safeguarding your condominium, look to a trusted coverage source in your community. We invite you to find out why so many of your neighbors are referring us to their friends and colleagues.


If you have questions about our North Carolina condo insurance options, feel free to give us a call at 704-821-4460 or stop by our office – we’d love to meet you and talk things over. You can also get a free, no-obligation quote by filling out the form on the page.

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