HSBC Homeowners Insurance
HSBC is based in London and is one of the larger banking and financial services organizations in the world. HSBC's international network comprises over 9,500 offices in 76 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. Their group of companies offers several forms of insurance including homeowners’ insurance. They claim to be “the world’s bank” as well, with their U.S. banking division located in several states.
HSBC offers standard homeowner’s coverage that includes indemnity for your home and personal possessions. It also covers personal liability, as do most homeowner’s policies sold in the United States. One of their products in this area is homeowner’s insurance for condominium or co-op owners.
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Condominium Insurance
When you purchase a homeowner’s policy, you are seeking coverage for the entire structure and any outbuildings along with your personal property. Renter’s insurance covers your property and leaves the building to the landlord. Condominium or co-op insurance falls in between: your policy needs to cover everything not covered by the master policy held by the homeowner’s association or co-op, but otherwise, the policy will resemble a standard homeowner’s policy.
The first thing you need to find out is how much your association covers so you'll know what you're responsible for. If you are responsible for everything but the naked walls, you will need to include the cost of materials and labor for your cabinetry, lighting and any improvements you've made, as well as the cost of replacing all of your appliances. One way to get this done is to have your unit appraised. The master policy probably covers the building and the common areas; the important question is to what degree the structure is covered.
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Standard Policy Elements
Both condo and standard homeowners’ insurance policies contain the usual protection for personal property and liability coverage for others visiting your home. HSBC makes specific note that their standard policies do not cover earthquakes and flood damage. Your personal property is covered up to a percentage of the home coverage; liability coverage is the standard $100,000. Most people choose a minimum of $300,000 in liability with HSBC, as with every other homeowner’s insurance provider.
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