5 Differences Between Condo and Homeowner Insurance


Regardless of whether you own a free-standing house or a condominium, insurance should be one of your top priorities to attend to. Condo insurance differs slightly from homeowners insurance, so if you’re moving from on to another you need to make sure you keep these differences in mind and adjust your policy accordingly.

Save Money on Your Homeowner Policy With These 5 Steps

Source: Schumacher Insurance

Other structures

Homeowners insurance typically covers an entire plot of land, and thus can cover any free-standing structures on the property, like garages. Condo insurance doesn’t offer this, since your apartment is part of a larger building.

Dwelling limit

Homeowner’s insurance will usually cover everything about the structure of your house, including exterior walls as well as interior walls and everything contained in the house. In condo insurance, the dwelling limit is usually delineated by the walls of your apartment. Any exterior features such as stairwells, exterior walls, etc. are covered by the Homeowner’s Association which owns the outer building.

Personal property

Homeowner’s insurance will only cover a portion of the cost of damaged personal items within the home, usually up to around half of what the home is valued at. Condo insurance will cover all personal items and anything that the Homeowner’s Association doesn’t, which may include appliances and flooring in your apartment.

Common areas

These are usually only discussed in condo insurance, as free-standing home owners don’t buy into a Homeowner’s Association. The dues paid to the HoA cover insurance for any common areas in the building.


Condo insurance is usually cheaper than homeowner’s insurance, since there is less to cover and personal items are less valuable than property structures.


Knowing what your insurance does and doesn’t cover is essential to your peace of mind. Contact us today to discuss your policy and how it can be made to work for you.


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 August 4, 2015, in Agency, Uncategorized. Bookmark the permalink. Leave a comment.

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