At GEICO we're committed to helping customers like you get the best coverage possible for their home, whether it's a cooperative (co-op), a single family house, or a townhouse. You can learn about co-op insurance below, and then get a free co-op insurance rate quote to see how we can help you protect your residence and your belongings.
You're an owner in a co-op and the corporation or association has insurance. So why do you need insurance, too? Your cooperative apartment corporation insurance covers the co-op building, commonly owned property, and liability insurance for the cooperative apartment corporation. But that insurance doesn't cover losses to your unit as a result of a burglary, if fire damage ruins the walls in your kitchen, or if someone trips over an object in your living room and is injured. That's why you need co-op insurance designed specifically for co-op owners.
Co-op policies protect you from losses to your personal property and the interior of your unit. You will also have liability protection for bodily injury or property damage to others. It's easy to get a quote for a cooperative insurance policy that will provide these coverages.
The articles of the cooperative apartment corporation and state law determine exactly which building components are covered under the co-op's master insurance policy. In most instances the cooperative's coverage stops inside the exterior walls meaning that you are responsible for the interior walls and possibly for fixtures, as well as your personal property and liability exposures. This is where your personal co-op insurance policy comes into play.
GEICO will help you obtain a great rate for a co-op insurance policy. You'll also have access to our highly-trained service agents who can help with any questions or changes you might have, whether they're general or specific to co-op insurance.
Please note:
The above is meant as general information and as general policy descriptions to help you understand the different types of coverages. These descriptions do not refer to any specific contract of insurance and they do not modify any definitions expressly stated in any contracts of insurance. We encourage you to speak to your insurance representative and to read your policy contract to fully understand your coverages.
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