Condo Insurance in Minnetonka, MN

Protect Your Home, Your Belongings, and Your Peace of Mind

If you own a condo in Minnetonka, MN, you love it for the freedom it gives you. But here’s the thing most people don’t think about until it’s too late: your condo association’s policy doesn’t protect you the way you think it does. That’s where Condo Insurance from Prokop Insurance Agency comes in.

We help condo owners in Downtown Minnetonka, Excelsior Blvd neighborhoods, Lake Minnetonka waterfront condos, Ridgedale Mall area condos, and nearby Hopkins, Wayzata, Edina, and Plymouth understand what their policy actually covers and what it doesn’t — and then we help them get the right protection at the right price.

What Condo Insurance Covers (and What It Doesn’t)

Most people start by asking, “Isn’t that covered by the condo association?” That’s a fair question. Condo buildings almost always have a master policy paid for by your association. But that policy usually covers:

• The building’s common areas and exterior structure
• Shared spaces like hallways, lobbies, and elevators
• Some structural components of each unit

But like most insurance, the master policy leaves big gaps once you look closer. An individual condo insurance (often called HO‑6 insurance) steps in to protect your part of the property:

Your Own Stuff

Your furniture, clothing, electronics, jewelry, and other personal property inside your condo.

Interior Finishes

Flooring, cabinets, built‑in appliances, and upgrades you’ve made that the association policy doesn’t cover.

Liability Protection

If someone slips and falls in your unit or you accidentally damage someone else’s property.

Temporary Living Expenses

If your unit is damaged and you can’t live there while repairs are happening.

Optional Add‑Ons People Often Need

• Loss Assessment Coverage if the HOA charges you part of a big claim
• Flood Insurance – not covered under typical condo policies
• Sewer / Backup Coverage – usually requires an endorsement

It’s surprising how many local condo owners think everything is covered once they pay HOA fees. That isn’t true — and it can cost you thousands if something goes wrong. That’s why you need an agent who knows Minnesota condo coverage well.

How Condo Insurance Works in Minnetonka, MN

Here’s how it typically works for people in Minnetonka:

1. Review Your Association’s Master Policy
   We read it with you so you know what’s covered and what’s not.
2. Recommend Coverage Levels
   Based on your belongings, upgrades, and risk level.
3. Customize Your Policy
   Add endorsements like sewer backup, higher personal property limits, or loss assessment protection.
4. Annual Review
   Your life changes. Your coverage should too.

Minnesota condo insurance isn’t one‑size‑fits‑all. What’s right for someone in a condo in Hopkins might be very different than what’s right in downtown Minnetonka. That’s why working with a local agent matters.

Why Local Condo Owners Choose Prokop Insurance Agency

You’ve seen other insurance pages that look the same from Minneapolis to Eagan. Here’s what makes Prokop Insurance Agency different for Minnetonka condo owners:

Local Experience You Can Trust

We’re a licensed insurance agency right here in Minnetonka, MN with deep experience helping people just like you.
We understand risk in Lake Minnetonka waterfront condos is different from wood‑frame buildings near Ridgedale Mall.

A Real Person on the Phone

We answer questions you actually have, like:

• What’s the difference between replacement cost and actual cash value?
• Do I need sewer backup coverage?
• What happens if my HOA policy has a large deductible?

We Don’t Sell One Product for Everyone

Unlike big carriers that push the same thing to everyone, we take time to find coverage that fits your situation.

Service That Doesn’t Stop After You Buy

We help with policy reviews, claims assistance, and adjustments as your life changes.

Trust Signals That Matter

• Licensed in Minnesota (State License # __________)
• Certified insurance professionals on staff
• 20+ years of combined experience
• Member of the Independent Insurance Agents & Brokers of Minnesota
• Strong Google reviews from Minnetonka residents

Related Services That Might Help You

In addition to condo insurance, we also offer:

• Homeowners Insurance
• Renters Insurance
• Umbrella Insurance for extra liability protection
• Flood Insurance for condos in higher‑risk areas
• Liability Coverage Enhancements
• Personal Property Scheduling for high‑value items
• Policy Review & Risk Assessment
• Claims Assistance & Filing Support

Bundling multiple policies often saves money and simplifies your coverage.

Common Mistakes Condo Owners Make

Honestly, most people miss these until it’s too late:

• Assuming the HOA policy covers their personal stuff. It doesn’t.
• Skipping loss assessment coverage — very costly if a big incident hits the building.
• Not reviewing the master policy yearly — things change, and so should your coverage.
• Buying the cheapest policy without understanding limits — that can leave big gaps.

We help you avoid these mistakes by explaining them clearly and answering your questions in plain English.

Typical Condo Insurance Cost in Minnesota

Condo insurance costs less in Minnesota than national averages. Most owners in Minnesota pay around $350–$450 per year, depending on coverage limits, deductible, and personal property value.

Keep in mind cost is only part of the picture. The right balance of protection is what matters most.

FAQs Minnesota Condo Owners Ask

1. Do I really need condo insurance if my HOA has a master policy?

Yes. The master policy usually covers the building’s structure and common areas. But it won’t cover your personal property, interior fixtures, liability, or your share of a big deductible. That’s where your condo insurance comes in.

2. What’s HO‑6 insurance?

HO‑6 is just another name for condo insurance. It’s tailored to protect what the HOA policy doesn’t — your belongings, interior upgrades, personal liability, and more.

3. Will my policy cover flood damage?

Standard condo insurance doesn’t cover flooding. You usually need a separate flood policy from the National Flood Insurance Program.

4. What is loss assessment coverage, and do I need it?

If your association charges you for part of a claim (like roof repair), this coverage helps pay your share. Most people do need this because big assessments can hit fast.

5. Can I add sewer backup coverage?

Yes. It’s an endorsement you can add to your policy because standard condo insurance doesn’t cover sewer or drain backups.

6. How much personal property coverage should I buy?

That depends on what you own. We walk through your belongings with you to make sure you aren’t underinsured.

7. Will my insurance help if someone gets hurt in my condo?

Yes. Liability coverage helps cover legal costs or medical bills if someone is injured in your unit.

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Ready for a Condo Insurance Review?

Here’s the deal: you shouldn’t guess about something as important as your home or personal property. Let’s get your current policy reviewed, fill in coverage gaps, and make sure you have peace of mind in Minnetonka.

Contact Prokop Insurance Agency today for a free condo insurance quote or review.
We’re here to answer real questions with real answers.