We at Pietila Family Agency have been helping people find the right insurance coverage for many years. Our team is thoroughly familiar with various types of insurance, and we can help you get the coverage you need. In this article, we will focus on our condo insurance, which is different from standard home insurance in some important ways. Keep reading to learn about the key differences between these two types of coverage.
- Interior Coverage – One key difference between home and condo insurance has to do with what parts of the structure are covered. In general, condo insurance covers only the interior of the dwelling, not the whole structure, as you own your unit, but the building is owned by someone else. Home insurance, on the other hand, covers both the interior and exterior of the home, as well as additional structures such as detached garages.
- Liability Coverage – Another key difference between home and condo insurance has to do with liability coverage. Both types of policy offer liability coverage, meaning they will pay out to cover medical and legal costs in the event that anyone gets injured while on your property. The difference lies in where exactly that coverage applies—for home insurance, the liability protection applies whenever anyone gets hurt on any part of the property, but for condo coverage, your policy’s liability coverage only applies if someone is injured while in your unit. If an injury occurs in a common area of the complex, then it will be covered by the landlord’s liability insurance, not your condo insurance.
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