How Much Dwelling Coverage Do I Need

What is the recommended coverage for condo insurance? Typically, mortgage lenders require each apartment to be insured for at least 20% of the appraised value of the insured units.

How much insurance coverage do I need for my condo?

Insurance levels. Mortgage lenders typically require coverage for individual apartments to be at least 20% of the estimated value of the units covered. For example, a $200,000 apartment would require insurance coverage of at least $40,000.

How much Underinsured coverage do I Need?

The most common insurance coverage required by states for uninsured or underinsured motorists is $25,000 per person and $50,000 per accident, as are the limits of liability in most states.