What does Condominium Insurance mean? Read on to discover the definition & meaning of the term Condominium Insurance - to help you better understand the language used in insurance policies.
Condominium insurance is a type of homeowner's insurance that financially protects a policyholder's condominium from various perils, such as fire, weather damage, vandalism, smoke, and explosions. Moreover, it only protects the individual unit, not common areas, such as hallways, staircases, and elevators.
We hope the you have a better understanding of the meaning of Condominium Insurance.