When you’re deciding to purchase your next home, there are many options to choose from. A house or a condo are popular options and with either one, selecting the right condo insurance or homeowner’s insurance is the right next step. For residents in London, CT, Action Auto Insurance Agency has been the premier destination for all insurance needs for more than 30 years, offering customized and affordable plans.

Condo Insurance vs. Homeowner’s Insurance

What’s the Big Difference?

When you own a condo, you own part of a building, so your insurance coverage only needs to cover what is legally yours. As far as a home goes, you own both the property and all of its assets. Ultimately, your coverage needs will fall under what your legal ownership is, but a knowledgeable insurer can walk you through finding out this information.

Condo Insurance Coverage

What you own usually comes down to what is stated in your contract. For example, are you responsible for the walls and floors or perhaps, a balcony? These are all things to take into consideration. The rest of the property should be covered by the condominium association, such as communal workout rooms or a pool.

What you want to cover really comes down to the amount of worth all of your belongings and personal property are. But, overall, it’s usually going to be cheaper than home insurance because you’re insuring less property.

Homeowner’s Insurance Coverage

Owning a home comes with a lot of responsibility because you need to insure the home itself and all of your property in the case of a disaster (think: fire, flood, break-in). Depending on the size of your home and your needs, it’ll be your decision to choose between a higher and lower deductible. Just make sure you speak with your insurer to understand your financial responsibility if something were to happen. 

If you’re ready to take the next step to insuring your home or condo, contact the friendly team at Action Auto Insurance Agency by calling (860) 444-7224. When you’re in need, you don’t want to stress about how you’re going to pay for it. With a priority to match you with the most affordable plan for your needs, rest easy knowing you and your assets are fully protected in every situation you need. To learn more about the team of specialists, visit the website.