Condo vs. Homeowners Insurance: 3 Differences Between Condo and Home Insurance

When you purchase a home or condo, having an insurance policy to cover the cost of damages to it is essential. However, not all homeowners insurance policies are the same. There are some important differences between condo and home insurance that you should keep in mind.

Condo Insurance

Source: Wikimedia

Primary Dwelling

With condos, the homeowners’ association holds the insurance for the structure itself, but this doesn’t include permanent parts of the condo, such as cabinets. For homes, the homeowner holds the insurance for the structure, construction materials and any permanent parts of the home. Cabinets and other permanent parts of a condo are covered under the insurance policy’s personal property section.

Personal Property

For homeowners, personal property coverage includes personal belongings that are valued at half of the home’s structure. Homeowners can purchase extra coverage as needed. For condo owners, personal property typically includes everything inside the actual condo that isn’t covered under the primary dwelling section. Since this affects home improvement projects, such as getting new cabinets, condo owners need a higher amount of personal property coverage.

Other Structures

Homeowners insurance includes coverage for other structures on the property, such as garages and sheds. Coverage is usually valued for up to 10 percent of the main structure. Homeowners can get additional coverage if they need it. Coverage for the other structures section of an insurance policy usually doesn’t apply to condos, since these typically don’t have additional structures.

Need more information on the differences between condo and home insurance? Please contact Schumacher Insurance Group to learn more.


About Schumacher Insurance Agency

Why trust us? What do we do different than every other insurance agency? Consider this an invitation to get to know us. We believe we are an exceptional team of protection specialists that work hard to do things the right way, to educate our clients on insurance, and make the experience effortless. We are excited to introduce a new insurance experience for our customers. We encourage you to speak with our team who can show you how different we are… from text messaging services for late payments to educational insurance concepts on Facebook. We will prove our innovative approaches to obtain the proper coverage’s for you, your family, your business. Insurance is likely not the most interesting affair for everyone, but it is most certainly ours! Yes, we are insurance geeks!

Posted on January 5, 2015, in Agency, Uncategorized and tagged , , , . Bookmark the permalink. Leave a comment.

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