Condo Insurance vs. Homeowners Insurance: Key Differences Explained

Choosing the right insurance for your property is essential to safeguard your investment and provide peace of mind. Whether you own a condominium or a single-family home, understanding the nuances between condo insurance and homeowners insurance can help you make an informed decision.

Condo Insurance Basics

Condo insurance, also known as HO-6 insurance, is designed specifically for condominium owners. This type of policy typically covers the interior of the unit, including walls, floors and ceilings, as well as personal belongings and liability protection. One key aspect of condo insurance is that it complements the master policy held by the condo association, which usually covers the building’s exterior and common areas.

Homeowners Insurance Basics

Homeowners insurance is tailored for single-family homes. These types of policies may cover the entire structure of the home, including the exterior and interior, as well as personal property and liability. Homeowners insurance can also include coverage for detached structures like garages and sheds.

Key Differences

The primary difference between condo and homeowners insurance lies in the scope of coverage. Condo insurance focuses on the interior of the unit and personal property, while homeowners insurance covers the entire structure of the home. Additionally, condo owners rely on their association’s master policy for exterior and common area coverage, whereas homeowners are responsible for insuring the entire property.

Learn More

Contact AeroMex Insurance to discuss your insurance policy options.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.