Difference between Condo Insurance and Home Insurance


Most of the homeowners nowadays are already aware of home insurance that they really need it doesn’t matter what type and style of your home you have. Home owners insurance is critical and if you carry a mortgage is a requirement by the mortgage company, and rightly so. If something was to happen to your home and it was destroyed completely, someone would still need to pay for it. So, if home owners insurance were not required, you would have to pay for a home still that did not exist.

Yes, it is never too late to learn about various knowledge of home insurance like with policy of condo insurance. Condominiums and townhouses have special insurance needs. They don’t need as much insurance as a house, but owners have more to insure than a renter. The insurance needs for a condominium owner include personal property and liability coverage.

Yes, they are both important, but of course, we need to know the differences between the two of them, the condo and home insurance.

If you own a house, most of the dwelling units will usually cover everything about the structure of your home including your furniture, fixtures, etc. It includes the exterior walls and interior walls as well as things contained between them. On the other hand, if you own a condo, the dwelling limit usually covers only the wall studs of your own unit inward.

Home insurance usually have a policy that covers other structures of your home and will typically only cover a portion of the cost of damaged personal property within the home up to usually about half of what the home is valued. It has a big difference when it comes with the condo insurance that does not offer the same like the coverage of home insurance because your unit is part of a larger building. But it usually cover half about half of what the home is valued as well as with the personal belongings, such as your money, important documents, jewelries, etc.

To determine the kind of insurance you want for your home or a policy covered by Galveston County Windstorm insurance, get in touch with the Rene Toman Insurance Agency today.

You can reach us at (281) 332-3559 or you can visit our website to fill out our contact form for your concerns.


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