condo insurance

What is Condo Insurance?

Condo Insurance is multi-risk insurance for the entire building constituted in a horizontal property for all the fractions that represent this Condominium.

Although there are Insurers that accept to take out this insurance only for a part of the fractions, the majority only agrees with this risk if it includes all the properties.

There is also another type of condominium insurance that allows you to ensure only the common areas of the Condominium: stairs, roofs, patios, elevators, gardens, and pools.

As we have already mentioned about the Multi-Risk Home Insurance, fire insurance is mandatory by law in buildings with horizontal ownership. However, having only this coverage is insufficient for most of our clients who opt for Condo Insurance, since it has a wide range of coverage that best corresponds to their current needs.


The most apparent advantage of Condo Insurance is that when we compare the price with the sum of the various home insurances of the fractions of the property, the premium to be paid is substantially lower than this sum.

However, although the lowest price is one factor to consider, other advantages must be taken into account when it comes to choosing between Condo Insurance and Multi-risk Home Insurance:

  • Ease and speed in resolving claims involving more than a fraction, such as the case of floods or rupture of pipes. In the case of condominium insurance, we will have only one insurance company involved, which facilitates and speeds up the resolution and the payment of compensation. When we have several tenants, each with their policy, we have to open several processes and wait for each of these insurers' availability, which can make the process time-consuming and painful, until the final decision of each of the different Companies.

  • It allows the Condominium to better protect itself in areas of community equipment such as swimming pools, gymnasiums, gardens that are usually not discriminated against in individual policies. In this way and even if you are not able to convince the rest of condos to adhere to the same insurance, we suggest that you always select Condo Insurance that covers the common parts of your property.


In Condo Insurance, you cannot ensure the content/filling of each fraction, but only the building (s) itself. If you want to protect the assets you have inside your home, you should take out a Multi-Risk Home Insurance for just the filling you have inside your home.


Consult our team and solve all the doubts and questions you have.

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