Does A Condo Need Homeowners Insurance?

1. 

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   Ted Ratliff

   Owner, SFS Associates,

   There are policies specifically designed for condo's.  Most condominium associations require insurance and if there is a mortgage your bank will.  The major difference is that the condo policy will only cover personal belongings and the interior of the building not covered by the association.  The association generally covers the building itself.

   Answered on May 30, 2013

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2. 

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   David G. Pipes, CLU®, RICP®

   Business Development Officer, T.D. McNeil Insurance Services, Fresno, California

   A condominium requires a special form of homeowner’s insurance.  The title company will require evidence of insurance from the condominium association and from the individual borrowing money for the condo.  The structure is the responsibility of the association and the interior is the responsibility of the condo owner.

   Answered on June 3, 2014

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