Comparing Condo vs. Home Insurance

How is condo insurance different from homeowners insurance? If you’re a homeowner or aspiring homeowner who’s been wondering about this very question, there are a few core differences you should understand. Whether you’re hoping to purchase a condominium and will need Condo Insurance or whether you’re interested in protecting your single-family home and other structures on the property, these two insurance types offer similar coverage but diverge in a few key ways. Home Insurance, for instance, generally provides a wider berth of coverage than condo-specific policies do. For an easy reference guide, take a look at these core comparisons below.

Condo Insurance Provides More Restricted and Limited Coverage

When purchasing insurance for your condo, remember that this policy usually offers coverage that is relatively restricted in scope. Condominium owners may have a smaller space to insure than single-family homeowners, and some condo associations specify that residents only technically own the space inside their condo’s walls. This means that with most condo policies, you can realistically expect to get:

  • Coverage only for the interior of your condo, typically excluding walls and other exterior structures
  • No coverage for personal property in the condo
  • No protection for any other property structures
  • Generally higher loss of use coverage limits than most homeowners’ insurance policies offer
  • Once per month or once per year payments, in most cases

Homeowners’ Insurance May Offer More Extensive Coverage for Your Property

Because homeowners’ insurance policies have to cover generally larger amounts of property than condo policies do, they typically provide more extensive coverage as well. For example, many homeowners’ policies offer the insured:

  • Protections for the interior and exterior structure of your home
  • Generally lower loss of use coverage limits than most types of condo insurance may offer
  • Coverage for any other structures near the house on your land, such as detached garages, tents, pools, hot tubs, decks, and more
  • Once per year payments, in many cases

Both Home and Condo Insurance Generally Fulfill Similar Coverage Tenets

Despite differences in scope, both home and condo policies typically fulfill a handful of similar roles for policyholders. Coverage includes property protections that all homeowners can benefit from, whether their homes are single-family dwellings or condominiums. Some examples of frequently shared coverage types include:

  • Personal property coverage
  • Loss assessment coverage
  • Liability coverage for incidental risks
  • Dwelling or structural coverage

Although both Condo Insurance and home coverage share several tenets, there are some primary distinctions that can make all the difference when selecting the appropriate insurance for your dwelling. Condo coverage, for example, is often more limited than home coverage, although both provide protections such as liability coverage, insurance for personal property damage, and more. With these handy comparisons, you can understand the extent of your chosen policy.

About Byrnes Agency

At Byrnes Agency, we offer insurance solutions that can be tailored to meet your specific needs. Whether you’re looking for personal policies or commercial coverage, we have the right coverage for you. To learn more about our products, contact us today at one of our two locations.

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Dayville Office

Phone: (860) 774-8549

394 Lake Rd

Dayville, CT 06241

United States

Hours of Operation: Monday- Friday 9:00am-5:00pm


Norwich Office

Phone: (860) 886-5498

6 Consumers Avenue

Norwich, CT 06360

United States

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