A condo, instead of a detached home, is the right choice for many home buyers. It lets you enjoy the benefits of homeownership without a lot of the work involved. While both are homes, there are some significant differences in the insurance between a house and a condo. Our team at The Good Insurance Group LLC in Bloomsburg, PA will be happy to highlight all the differences to customers.
What’s the same?
Condo and home insurance provide content overage and loss of use coverage. These are virtually identical no matter what type of home you have. You can choose between current value and replacement cost regarding personal property. With loss of use, help will be provided for accommodation if your home or condo is deemed uninhabitable. It may also provide some meals if you are unable to cook.
What is different?
When it comes to property coverage, there are some major differences between a condo and a house. With a condo, the condo association has a master policy covering the condo unit’s exterior and common spaces. This means you will not replace the roof or deal with the siding. How deeply the coverage goes into your unit depends on the master policy, and you should make yourself aware of how much coverage for property you actually need.
Liability coverage is also similar to property coverage. The master policy covers the parking lot and a pool if there is one. The master policy covers any common areas that anyone can use. You are responsible inside your unit and for your family members.
We are an independent insurance agency at The Good Insurance Group LLC in Bloomsburg, PA. We offer more choices, and we will provide personalized service. Call us today.
