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NCIB Group Inc

3316 N Central Ave
Chicago, IL 60634

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7409 W Archer Ave
Summit, IL 60501

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Illinois Condo insurance coverage

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Condo Insurance in Illinois

Every condo owner in Illinois should purchase a condo insurance policy to cover their unit beyond and above condo association insurance. Your condo association policy will only cover the building or condo structure and other common areas. A condo insurance policy from NCIB Group Inc. in Chicago, IL will ensure that your unit is fully protected from where your condo association stops.

While association by-laws of various condominiums vary, condo owners are responsible for interior sections of their units. In other words, your association's insurance will not cover things such as walls, floors, and cabinets in your unit.

What are the basics of condo insurance coverage?

  • Liability Coverage: It is highly suggested to have this coverage, and your Association may also have a minimum limit requirement. The coverage is for protecting you financially in case you are found liable for causing bodily injury or damage to other people's property.
  • Personal Property: It covers your personal belongings such as clothing, appliances, furniture, and electronics. You may be required to purchase a special coverage for valuable items such as jewelry or a comic collection.
  • Water Back up: Under the Illinois Condominium Act, everyone should insure his or her own property. Therefore, in situations where there is no negligence on the part of the Association, you should add this coverage to protect your personal property.
  • Excess Expense Coverage: It covers all your living expenses in case your condo is rendered uninhabitable. Remember, the Association will not pay for your extra living expenses when your unit becomes uninhabitable.
  • Attached or Building Property: It covers cabinets, countertops, and flooring among other fixtures. The coverage may be written as 10 percent of your personal property, which is often insufficient. The limit can be increased to cover replacement costs for your other finishes within your condo.

Our team will help you understand various association by-laws so that you are prepared beforehand in regard to knowing your exact responsibilities in the event of a claim. If you are looking for condo insurance in Illinois or have questions regarding this policy, contact NCIB Group Inc. in Chicago, IL to guide you further about other additional coverage options.


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Servicing States

  • Illinois
  • Indiana
  • Wisconsin