Condos & Co-ops

  • It's not just walls, floors, and doors — it's your home.

Whether yours is a condo or co-op, it’s a major investment. Condo insurance helps protect that investment. But there’s more to it than that.

Your home has a value beyond dollars and cents. It’s where life happens and memories are made. It’s emotional. If a loss occurs, you’ll want more than a check from your insurer. You’ll want your life back. You’ll want the damage to just go away—and if that can’t happen, you’ll want to repair or replace everything without any hassles.

Condo/Co-op Coverage Highlights

Whether yours is a condo or co-op, it’s a major investment. Condo insurance helps protect that investment. 

Masterpiece® Condo and Cooperative (Co-op) policies offer:

  • Additions & Alterations Coverage: We give you coverage for additions and alterations (home improvements) like custom counters and cabinetry, imported tile flooring, bathroom upgrades and home theater systems for the amount it costs to replace them today—up to your policy limit. In certain states, you can choose to purchase Extended Replacement Cost coverage, which extends beyond your policy limit if necessary to rebuild or restore your home. Ordinary condo insurance may not pay for all that, and your association policy certainly won’t.
  • Loss Assessment Coverage: if something happens to common area property such as the pool, clubhouse or lobby, even if it’s covered by your association insurance, you may still need to kick in for the policy deductible, which could be huge. We include generous coverage up to $50,000 for your share of a loss assessment; and higher amounts may be purchased in certain states. Ordinary condo insurance is limited.
  • Risk Consulting Expertise: For many properties, we can send a Chubb appraiser right to your door. Architecture and special details will be carefully documented—like fine wall coverings, unique moldings and high-end, built-in appliances. Our software then calculates the replacement cost, fine-tuned by our decades of experience, to help you determine the appropriate amount of coverage.
  • Claims Excellence: You’ll see the Chubb advantage if you ever file a claim—usually within six hours or less of the initial report. And you get empathy along with speed. We pay most covered claims within 48 hours of settlement. Remediation specialists are available 24/7, with expedited service for water and smoke. If your condo is uninhabitable after a covered loss, we pay for temporary living expenses until you can go home again.

What do you have to insure?

If something happens outside your walls—a storm rips off the siding, a tree crashes through a window, or something sets the roof on fire—usually your building association master policy covers exterior damage and repairs, not you. From your walls in, it’s your worry—like a fire, smoke or water damage, a burst pipe, or a burglary—it’s your loss.

Consider everything you’ve done to make your place yours. That’s where Masterpiece condo and co-op coverage comes in.

Related Resources

Helpful Tips

While your condo or co-op association may have an insurance policy, it may not cover additions and improvements. You may be responsible for more than you think, but you can change that. Do it now and sleep better at night. 


Disclaimer: This information is descriptive only. All products may not be available in all jurisdictions. Coverage is subject to the language of the policies as issued.

The Value of your Condo & Co-op Policy