Thanks to the area’s hot, humid, and occasionally cold weather, most condo units in New Orleans, LA, have HVAC equipment of some kind. If you own a condominium, you may want to know if your insurance covers them. The answers will vary depending on the type of condominium, the equipment it uses, and the condo association’s policies.
Individual Units
Many condos have separate HVAC equipment that only serves a specific unit, such as window air conditioners, exhaust fans, and electric baseboard heaters. An individual condominium owner’s policy typically covers this equipment because multiple owners don’t share it. While condo insurance covers several harmful events, such as fire and vandalism, separate flood insurance is needed if you live in a flood zone.
Centralized HVAC
On the other hand, the entire building shares some HVAC equipment. The condo association’s master insurance policy would probably cover a central system, like a boiler or furnace. However, individual owners may be responsible for insuring parts of a centralized system installed inside their condo units (such as thermostats).
Causes of Damage
Keep in mind that insurance covers losses associated with certain unexpected incidents, such as theft. It doesn’t serve as an extended warranty, so you can’t file claims for things like routine HVAC maintenance, defects, or age-related failure. Depending on the type of system, you might be responsible for regular upkeep, or the association may handle it.
If you’re looking for reliable condo insurance or thinking about switching to a different carrier, MultiSurance can help. Our independent agency serves condominium owners throughout the Pelican State. We compare condo policies from an assortment of carriers to find the most desirable options for each customer. Please call 877-467-8310 to contact MultiSurance at our New Orleans, LA office.
