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Condo insurance is a type that all condo owners need. Both condo boards and mortgage lenders require this type of policy for your protection. Many people are familiar with home insurance and assume that it’s exactly the same as condo insurance. However, there is a significant difference between the two types of insurance. Contact us at Garrison Insurance Group in Lilburn, GA to get started with a condo policy.
Dwelling Protection
A home insurance policy covers the entire home and its grounds. A condo policy doesn’t do this. It covers only the specific areas that you own. This includes the interior of your dwelling but not the outer walls or any common spaces. Depending on your purchase contract, it may cover the inner walls on the exterior of the building, or it may only cover the spaces between the inner and outer walls. The policy is written to protect whichever areas you own.
Similarities
There are also many similarities between these two types of policies. They both cover your home against damage caused by a variety of events and your belongings inside your home. Condo insurance generally doesn’t cover anything outside, though home policies regularly do. Both also offer small liability coverage in case someone is injured in your home. Every homeowner needs this essential type of coverage to protect themselves against liability.
Get Condo Insurance in Georgia
If you’re buying a condo or looking to switch your condo policy, we’re here to help you get what you need. To get started with a condo policy, call Garrison Insurance Group in Lilburn, GA.
