Home and condo insurance have many more similarities than differences. Both protect against unfortunate events such as damage to your living space or injuries to others that might occur there. Since a home or condo is generally among your most significant investments, it is critical to have insurance coverage that protects your assets financially. Our Brown-Hurst Insurance Agency Inc. team, serving the State of Iowa, will work with you to structure a policy meeting your needs.
What Does Condo Insurance Cover?
Home and condo insurance have several common elements. Both protect your belongings and liabilities due to the following:
- accidental injuries and property damages caused by you or household members
- medical expenses when you or household members are responsible for injuries to others
The difference between home and condo insurance is how they cover the dwelling or building. Home insurance covers freestanding buildings, so home policies cover all parts of the building and grounds. Since condos are shared properties, the association’s insurance covers the common areas and some portions of the building.
Condo associations have master policies that are either "bare walls-in" or "all-in." "Bare walls-in" policies cover the building exterior and common areas, while your condo policy covers everything inside the walls of your condo.
An "all-in" policy covers the building exterior and common areas as well as your interior walls, appliances, flooring, and lighting. Your condo insurance covers everything the condo master policy doesn’t handle, including all your belongings, so you must be aware of your association’s master policy coverage when acquiring condo insurance.
Working with Brown-Hurst Insurance Agency Inc
Brown-Hurst Insurance Agency Inc., serving Iowa, has deep experience providing home and condo insurance. Call or stop by today to structure a policy to meet your needs.
