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Condo Insurance

Definition of term

Condo insurance is a type of homeowners insurance that specifically covers condo units. Like homeowners insurance, condo insurance protects against damage to your unit caused by fire, weather, theft, and other hazards. Condo insurance also provides liability coverage if someone is injured while on your property. Lenders typically require condo insurance if you have a mortgage on your condo unit. Even if you don't have a mortgage, it's still a good idea to have condo insurance. It can help give you peace of mind knowing that your home has protection against potential dangers.

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