What it the Difference between Home and Condo Insurance?

Real estate ownership in the New Windsor, NY area is a viable option for many. Whether you own a single-family home or a condo, securing the right insurance is crucial. Depending on the property, you might need a home or condo insurance plan. It’s essential to understand the differences between these types of insurance.

Property Coverage

A significant difference between home and condo insurance lies in the level of property coverage. A home insurance plan covers your entire property, including the walls, roof, and interior elements. Conversely, a condo insurance plan only offers coverage for items within your unit. The roof, common areas, and other elements of the entire property are covered by a condo association master policy.

Liability Coverage

The extent of liability coverage can also vary between home and condo insurance. A home insurance plan covers accidents that occur anywhere on your property. However, a condo insurance plan only covers accidents that happen within your unit. You might need to secure additional coverage through a condo insurance master policy or umbrella insurance to ensure comprehensive protection.

If you’re considering buying a new home in the New Windsor, NY, area, you need to ensure you have the right insurance coverage. A reliable way to achieve this is to contact our Windgate Insurance Agency Inc. team. Our team will provide the necessary assistance to create a new policy tailored to your needs.