Condo Owners Insurance: What’s not covered?

Condo owners insurance is a good idea for anyone who owns or rents a condo in Nevada. While it may be required by the homeowners association (HOA), condo owners need to be careful about the type of policy they choose. They should also look through their policy and understand what is not covered under their policy.

A number of losses are not covered under these policies. Damage caused by domestic animals, insects, or birds, for example, is not covered. Further, damage caused by nuclear hazard, contamination, deterioration, or settling is also not covered. Condo owners may be interested to know that an earthquake or mudslide, as well as water damage caused by underground water or flood are all not covered.

Personal liability coverage is part of many plans, but some loss is not covered under this provision. Loss resulting from providing or not providing professional services, business activities, or property damage or bodily injury that’s intended or expected by the policyholder is not covered. Additionally, loss that results from use, operation, ownership of maintenance of certain watercraft, motor vehicles, and aircraft is also not covered.

To learn more about exclusions on condo owners insurance or other policies, visit the All Nevada Insurance Blog.