Condo Insurance VS Homeowners Insurance
When you purchase a new home, the first thing you want to do to protect yourself with home insurance. However, what kind of insurance do you get? If you purchased a house versus a condo, you need different types of coverage.
If you purchased a condo, you may have a lot less responsibility than if you purchased a house. Buying your own house means you’re responsible for both the homes interior and exterior, including whatever land it sits on. Purchasing a condo, on the other hand, means that you are solely responsible for the inside of your home. The condo homeowners association (HOA) is responsible for everything “studs out,” including your building’s siding, landscaping, parking lot, and roof. Because of these key differences, it makes sense that the amount of coverage and type of insurance you buy will be different for both situations. Learn about the different aspects of each, to see which insurance is best for you.