How Condo Insurance Differs From Homeowners Insurance

Owning a condo can feel a lot like owning a home. You build equity, decorate to your liking, and make it your own. But when it comes to insurance, condos and single-family homes are worlds apart. Understanding how condo insurance through R&R Insurance Group LLC serving Quakertown, PA, differs from homeowners insurance can help you avoid expensive surprises when something goes wrong.

What Condo Insurance Covers

Condo insurance focuses on what’s inside your unit. It typically covers your personal belongings, interior fixtures, and any improvements you’ve made, like upgraded flooring or countertops. It also includes liability protection in case someone gets hurt inside your unit. What it doesn’t cover is the building’s main structure or shared areas like hallways, elevators, or the roof. Those fall under the condo association’s master policy.

How Homeowners Insurance Works

Homeowners insurance is broader in scope. It covers both the structure and the contents of your home, including attached features like garages and decks. It also protects against damage from perils such as fire, theft, or storms. Because homeowners are solely responsible for their property, this type of policy extends to land, exterior walls, and everything under the roof. On the other hand, condo owners share responsibility for the building with their association.

Why It Matters

Some association policies cover only the bare walls of your unit, while others include built-in features like cabinets or fixtures. Reading your association’s bylaws, or asking your insurance agent to review them, can help ensure there are no gaps.

Condo insurance may seem simpler, but it’s anything but one-size-fits-all. Knowing how your coverage fits with the master policy gives you confidence that your home and belongings are protected. Contact R&R Insurance Group LLC, serving Quakertown, PA, to learn more.