Condo Insurance

We ensure our policies cover all those little details for your peace of mind

Assets Management Group helps new buyers with condominium insurance in Texas and those that need to update condominium insurance due to improvements such as a remodeling or renovation.

Condominium Insurance Quotes

It is easy and fast to get a quote for condominium insurance. Just contact an agent at Assets Management Group. Insurance is available for any condos in the state of Texas. The agent will help you understand how condominium insurance works and what the monthly premium will be, depending on the insurance needs and the deductible you choose.

If you are still shopping for a condo to purchase, this is the perfect time to talk with your agent. You will be able to compare the insurance coverage for the different properties you are considering. This will help you make an informed decision about which one is the best to buy for your circumstances.

Understanding Texas Condominium Insurance Requirements

Texas law (Texas Property Code ยง82.111) requires every condominium association to have a certain amount of insurance for the common areas of the condominium complex. This insurance must provide at least 80% of the replacement cost or the actual cash value for those common areas. The association must also have commercial general liability insurance that includes medical payment insurance to cover all occurrences commonly insured against for bodily injuries, property damage, or death arising from the use, ownership, or maintenance of the common areas.

Before buying a condominium, you should request a copy of the insurance policies maintained by the condominium association to make sure that they are in effect and meet the requirements under the state law.

The requirements for the condominium association to have this insurance does not prevent you from having your own coverage. Naturally, you want to have adequate coverage for your condominium itself; however, you may want to extend the coverage for anything that is not adequately protected by the insurance maintained by the condominium association.

Consult with your agent and let the agent review the policies to give you advice about the coverage for your needs that will adequately protect your interests. Visit our agency's office or give your agent a call to get a quote for condominium insurance.