Fidelidade Condominium Insurance
Insurance Fidelidade is designed for condominium administrators—whether elected or professional—and management companies seeking to ensure legal and financial protection for the building and its residents through a comprehensive solution tailored to the needs of each property.
Who is Fidelidade Condominium Insurance intended for?
This insurance is intended for buildings under a condominium ownership structure, providing coverage for both common areas and, in certain situations, individual units. The greater the number of unit owners who enroll in the policy, the more uniform the coverage and the simpler the claim process.
Base Covers
Fidelidade offers a set of basic coverage options designed to protect the building against the main day-to-day risks.
Among the key protections included, the following stand out:
Fire, lightning strikes, and explosions
Storms
Floods
Landslides
Demolition and debris removal
Theft or robbery
Non-contractual civil liability of the condominium
Damage caused by burst indoor pipes
Accidental spills
Damage caused by fire protection systems
Vehicle collisions or impacts
Broken glass and mirrors
In the most comprehensive plans, the insurance may also include coverage for electrical hazards, damage to underground plumbing, and personal property belonging to the condominium.
Additional Coverage Under the Fidelidade Plan
Tailor the policy to the specific needs of your building with optional coverages that enhance protection for the condominium.
The main supplemental coverage options include:
Seismic events
Acts of vandalism
Strikes, riots, and disturbances of public order
Inspection for broken pipes
Personal accidents
Legal protection
Assistance for the condominium
Damage to technical equipment
Civil liability of the administrator
Coverage for common personal property
These coverage options allow the insurance to be tailored to the specific needs of each building, offering greater security and protection for all homeowners.
Request a free estimate
If you'd like to find out the price of Fidelidade Insurance for your building, we can help you review the coverage options, insurance limits, and deductibles—with no obligation.
Request your free quote today and find the best solution to protect your condominium.
How do I know how much to insure?
Correctly determining the insured amount is one of the most important aspects of condominium insurance.
The insured value does not correspond to the market price of the property, but rather to its replacement cost: that is, the cost required to rebuild the building from the ground up, including structures, elevators, walls, gates, equipment, and improvements.
Insuring for an amount less than the actual value may have consequences in the event of claim. In such cases, the insurer may apply the proportional rule, reducing the amount of the indemnity in the same proportion as the shortfall in the insured amount.
Therefore, it is essential to review the insured amount regularly and ensure that it is up to date.
On our blog, we explain how to calculate this amount based on the annual ordinance published by the state, which lists the average construction costs per square meter.
→ Learn how to calculate the coverage amount for comprehensive insurance
Why choose R2 Seguros?
R2 Seguros is an insurance broker registered with the ASF (Insurance and Pension Funds Supervisory Authority), with experience in the areas of condominiums and housing.
When you sign up through R2, you’ll enjoy the following benefits:
Independent advice: We analyze your situation and recommend the most appropriate solution for your condominium
Support with the contracting process: We handle all the necessary documentation
Assistance in the event of claim: We monitor the entire process from the initial report to resolution
Periodic policy review: We ensure that the coverage meets the condominium’s needs
→ Talk to one of our brokers who specializes in condominium insurance.
Frequently asked questions
Is condominium insurance mandatory in Portugal?
Yes. In Portugal, it is mandatory to have fire insurance for buildings under the condominium system, as provided for by current legislation.
Does the Fidelidade Program cover individual units?
The Fidelidade can cover both common areas and individual units, depending on the plan selected. For more comprehensive coverage, it may be advisable to supplement it with a multi-risk home insurance policy.
What happens if the condominium doesn't have insurance?
The condominium management may be held liable for damages caused to third parties or to the unit owners themselves, leaving it without coverage to pay any compensation or damages.
Does the insurance cover water damage?
Yes. The Fidelidade covers damage caused by breakage, leaks, and spills, in accordance with the coverage purchased.
Fidelidade Condominium Insurance
