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Our experienced agents will help you understand all of the insurance options available to you.

One of the upsides to buying a condominium vs a home is that you

need less insurance.

When you own a home, you have to insure the inside and out, including the land. With a condo, you’re usually only responsible for your personal belongings and the interior of your dwelling. The rest of the building is covered by the homeowners association (HOA).

On your condo insurance policy, you only need enough coverage to rebuild the interior of your unit should a covered loss occur. Outdoor repairs, exterior walls, hallways, roof, etc., fall under the HOA’s insurance policy. Likewise, your personal liability responsibility only extends to injuries which occur within your condo, not on the land outside, which is also covered by the HOA policy.

What truly determines how much coverage you need in your condo insurance policy is the value of your personal belongings, which the HOA policy does not cover (in most cases). That would include electronics, jewelry, art, clothing, home decor, furniture, appliances, cookware, and similar valuables. Additionally, a condo insurance policy from Nazareth Mutual extends coverage to fixtures, additions, and any alterations you make within your condo unit.

Condo insurance differs from Renters insurance, although they have some similarities.  The biggest difference between the two types of insurance is that a renters policy does not cover damage to the interior physical structure, as a condo policy does.


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