West Virginia Condo Insurance
Get a complete analysis of West Virginia condo insurance costs, coverages & companies.
Written by
Christine Lacagnina has written thousands of insurance-based articles for TrustedChoice.com by authoring consumable, understandable content.
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Jeff Green has held a variety of sales and management roles at life insurance companies, Wall street firms, and distribution organizations over his 40-year career. He was previously Finra 7,24,66 registered and held life insurance licenses in multiple states. He is a graduate of Stony Brook University.
Find the Best Condo Insurance Rates & Companies in West Virginia
Whether you've secured a condo in the populous city of Charleston or a quieter area like West Bethlehem, owning a condominium in West Virginia comes with various perks over traditional single-family homes. Added benefits aside, it's wise to protect your investment with a condo insurance policy. Condo insurance can provide the reimbursement you deserve after many types of events, including break-ins and lawsuits.
Fortunately, a local independent insurance agent in West Virginia can help you find the right condo insurance policy today. Your agent can get you matched to the ideal amount of coverage fast. But first, here's a breakdown of West Virginia condominium insurance requirements, coverage options, and more.
Best Condo Insurance Companies in West Virginia
There are many different condo insurance carriers in West Virginia. However, we're hoping to help you save time finding the best coverage by providing a few of our top-rated insurers. Check out the policy options sold by these outstanding condo insurance companies in West Virginia first.
- Foremost: This carrier sells condo insurance and many other types of personal insurance. Foremost has excellent ratings from AM Best and the Better Business Bureau (BBB), offers numerous discounts, and has 24/7 claims reporting.
- Encova: Encova has superior ratings from AM Best and the BBB and has 24/7 claims reporting. They sell many types of insurance.
- Travelers: Travelers provides condo insurance in many states, and is a longstanding carrier with outstanding ratings from the BBB and AM Best. They offer numerous discounts.
An independent insurance agent in West Virginia can help you compare quotes and coverage from each of these carriers and others that sell condo insurance near you.
What's the Difference Between HO3 and HO6 Insurance?
Condo insurance is a special form of homeowners insurance that doesn't include coverage for a home's structure or dwelling. These policies are also referred to as HO6 insurance.
Other forms of home insurance, called HO3 insurance, include dwelling or structural coverage. Condo or HO6 insurance doesn't provide dwelling coverage because each condominium unit's structure is typically protected by the homeowners association's master insurance policy.
Is Condo Insurance Required in West Virginia?
In many cases, condo insurance is required in West Virginia. Even if this coverage isn't mandatory by state law, condo insurance is typically required by either a condo association or a mortgage lender. Regardless, having condo insurance can be a smart move since it can provide critical reimbursement after expensive incidents like lawsuits, vandalism, fire damage, and more.
What Does Condo Insurance Cover in West Virginia?
Condo insurance can provide reimbursement for disasters that occur inside the walls of your unit. Condo insurance in West Virginia covers liability claims, damage to your personal property, and relocation costs if an event temporarily displaces you from your condo. These coverages are often included in condo insurance:
- Personal property coverage: Covers repairs and replacements of your personal property, such as furniture and clothing, if it gets damaged or destroyed by a fire, storm, vandalism, or other listed events.
- Liability insurance: Covers lawsuit costs after injuries or property damage if a family, friend, visitor, or another third party sues you for these claims.
- Loss of use coverage: Covers costs associated with having to relocate if a fire or another listed event causes severe damage to your unit. Loss of use coverage can help pay for a hotel and daily expenses until you can return home.
Make sure to review your specific condo insurance policy's terms to be certain of exactly what's covered.
What's Not Covered by West Virginia Condo Insurance?
Condo insurance also comes with a certain set of exclusions that are important to be aware of. In West Virginia, don't expect condo insurance to cover any of the following:
- Insect damage and infestation
- Flood damage
- Routine maintenance
- Malicious or intentional acts against third parties
- Sewer backup damage
If you're concerned about flood damage to your personal property, you can talk to your agent about adding sewer backup endorsements to your policy or even getting a separate flood insurance policy.
How Much Does Condo Insurance Cost in West Virginia?
The average annual condominium insurance cost in West Virginia is $255. Considering the current national average cost of condo insurance is $455 per year, residents in West Virginia can save quite a bit of money. However, the cost of your unique policy can vary based on the following:
- Your personal claims history
- The crime and weather risks in your ZIP code
- The coverage options, limits, and deductible you choose
- The coverage provided by the association's master policy
- The value of your condo and personal property
Any West Virginia condo insurance discounts you're eligible for can help you reduce the cost of your coverage even further.
Save on Condo Insurance
Our independent agents shop around to find you the best coverage.
Popular Questions about West Virginia Condo Insurance
Condo insurance isn't required by law in West Virginia. However, condo insurance is often required by most mortgage lenders and condo associations.
The current average cost of condo insurance in West Virginia is about $255 annually. This breaks down to around $21 monthly.
Our finding is that Foremost is the best condo insurance company in West Virginia. Foremost offers competitive rates, excellent customer service, and many discount options.
West Virginia independent insurance agents can help you find the condo insurance you need from a top-rated local carrier. Independent insurance agents work hard to find quality coverage at the most affordable rate. They'll shop and compare condo insurance quotes from several carriers for you.
And down the road, they can help you file condo insurance claims or update your coverage as needed. Your agent can help you find condo insurance in Charleston or wherever you reside.
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