Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
A condominium is a collection of individual home units and common areas along with the land where the building is built. Individual home ownership within a condominium means ownership of only the air space confining the boundaries of the home. The exterior walls, common areas and other property are owned by the condominium association. The result is that a condo policy does not cover anything except the inside of the condominium unit.
Manager, Marindependent Insurance Services LLC, California
Generally speaking condo coverage can often cost less than home insurance. Than again that is not always true.
Condo insurance is far more complex insurance to procure than home insurance in most situations based on the fact that Condo Policies need to work in tandem with the master building policy. In order to faciliate this your insurance agent should look over your HOA documents to best help determine which type of condo coverage that you truly need.
None the less, I believe that all owners of condo units should get the insurance.
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Condo insurance is far more complex insurance to procure than home insurance in most situations based on the fact that Condo Policies need to work in tandem with the master building policy. In order to faciliate this your insurance agent should look over your HOA documents to best help determine which type of condo coverage that you truly need.
None the less, I believe that all owners of condo units should get the insurance.