In most states, AAA offers an “open policy,” which covers damage from any peril not specifically listed in the policy, rather than a “closed peril” policy, which covers only listed perils.
Most condominium insurance policies typically cover theft, vandalism, and damage caused by the following:
- lightning, fire, or smoke
- windstorm or hail
- an explosion, including a volcanic eruption
- a vehicle crash, including a car or an aircraft
- a falling object, such as a tree
- a riot or civil commotion
- the weight of ice, snow, or sleet
A policy can also cover sudden, accidental electrical or other damage to a steam or hot water system, air conditioning system, or fire sprinkler system.