All condo insurance policies are not alike. They pay varying amounts of coverage to replace
your unit's wall coverings, flooring, light fixtures, carpeting and personal belongings.
The 2 most common levels of coverage are:
- Actual Cash Value
Your house or property is covered for the depreciated amount, based on the actual value
at the time of loss.
- Replacement Cost
The contents of your condo are covered up to the amount that it would cost to replace
your belongings with items of like kind and quality.