​​​​​Yes, you probably need condo insurance. Typically, your condo association is only responsible for the exterior structure. In most cases, your personal condo policy will need to cover replacement of drywall, flooring, light fixtures, plumbing and other internal amenities, personal property, and any upgrades you’ve made. Check with your PEMCO agent to make sure you’ll be covered. ​

​​​​​PEMCO offers replacement-cost coverage for the internal structure and upgrades to the condo not covered by the master policy. And depending on the policy type you choose, your personal property can be protected at replacement cost as well. A PEMCO agent can work with you to determine what the correct replacement cost should be. By discussing your insurance needs with an agent, you’ll ensure that you’ve got it all covered from your condo’s drywall to your favorite golf clubs or sentimental pearl necklace. ​

​​​​Loss assessment coverage protects you if there’s ever a loss under your condo association master policy — including payment of a portion of your share of the master-policy deductible, up to $1,000. For example, if wind damages the roof, the roof repair is covered under your condo association master policy, but each unit-owner is still responsible to pay a percentage of the deductible. Without loss assessment coverage, those repair costs come out of your pocket.​​ PEMCO offers loss assessment coverage that’s very affordable – $50,000 of coverage for as little as $25 per year in some cases. Ask a PEMCO agent to help determine your needs, especially if you’ve upgraded your condo.​​