Trusted Choice
Trusted Choice
A licensed Managing General Agency serving all of Texas "Join Our Team Today"

Texas Insurance Agency Articles

The Difference Between Standard Homeowners Insurance and Condo Insurance

When a person has a very valuable piece of property like a house or a condo, it is very important that the property be protected. What if something happens, don’t you want to make sure your things are protected? Can you imagine your home being flooded or a fire destroying everything? How would you have the money to replace everything you lost? Homeowners insurance is a must no matter if you live in a condo or a house. However, is there a difference between the two? Here are the differences between homeowners insurance and condo insurance.

Coverage for the condo: Condos are like apartments, there can be many of them inside a building. However, when you live in a condo someone else generally takes of everything including the maintaining of the building. A person living in a condo really doesn’t have to buy insurance because the people that own the property do that and then simply add the cost into the rent the people pay to live in the condo. Keep in mind though that the insurance the people are paying with their rent is for the building itself in case of fire or any other damage that might be caused.

Insurance for the contents of the condo: What about everything inside the condo? The people who pay rent to the condo have to take care of getting insurance to cover the value of everything inside the condo. A person who lives in a condo might also have to look into insurance to cover the structure itself from accidental damage to the interior walls, floors, and ceilings.

Coverage for the homeowner: The big difference between insurance for the home versus insurance for the condo is that the insurance a homeowner buys covers everything on both the inside and the outside of the home. There is no need to pay separate insurance for the structure of the inside of the condo, and then pay insurance for the possessions as well.

You never know when something may happen to your home. To have peace of mind, whether you live in a condo or a home, insurance is important and necessary. Though insuring a home is a little easier than a condo, anyone who lives in either one has to make sure they are protected in case something happens. The last thing you want to happen is for everything you have to be gone and no way of replacing all the valuables you lost.

Houston

Local: (281) 398-1010
Toll Free: (877) 952-1010
Fax: (281) 398-0909

21430 Provincial Blvd, Katy, TX 77450