A homeowner's insurance policy protects the actual structure of their home, along with many of the belongings inside, but what if you own a condo? Condo owners, after all, only own a stake in the building, which will likely be covered by a master policy. However, your HOA's coverage probably won't pay for damages to the inside of your unit or your property, which is why carrying condo insurance is essential.

According to Action Auto Insurance Agency Inc., an independent agency based in New London, CT, many different factors influence the type and amount of condo insurance you need. One of the most important is the type of insurance policy the HOA of your building carries.

Some may have what's known as “all in” insurance, which covers the exterior, common areas, and the original fixtures on the interior, excluding any improvements or upgrades you've made. However, it's more likely that your HOA has a “bare walls” policy offering no protection for the interior of the unit at all.

However, there are some situations where you aren’t covered by HOA insurance, regardless of the type of policy. For example, you won't be reimbursed if your personal belongings are stolen or destroyed in a disaster, nor will they offer liability coverage if a guest is injured inside of your unit. In these instances, and a host of others, your condo insurance provides a vital layer of protection for your property and priceless peace of mind.

The insurance experts at Action Auto Insurance Agency pride themselves on ensuring their clients have the coverage they need, with policies tailored to your circumstances. As independent insurance agents, they work with a variety of some of the industry's best carriers, giving them a broad spectrum of products to choose from. Call their offices at (860) 444-7224 for condo insurance quotes today, or visit the website for more information.