Campbellsville, Kentucky
309 E 1st St
Campbellsville, KY 42718
(270) 465-4218

Key Differences Between Homeowners & Condo Insurance September 25, 2017

Campbellsville, Taylor
Key Differences Between Homeowners & Condo Insurance, Campbellsville, Kentucky

Buying a home is both exciting and nerve-wracking. While it’s fulfilling to own your own space, it’s also a great responsibility. Before purchasing insurance for your condo, you might have some questions about your coverage. Many are uncertain about the differences between condo and homeowners insurance; for instance, what their policy should include. Below is a quick look at what separates the two, as well as how they’re similar.

Condo vs. Homeowners Insurance

insuranceWith homeowners insurance, you’re responsible for the structure’s interior and exterior, as well as the land. As such, it must be high enough to cover the total cost of rebuilding not only the house but also other structures on the property, like fences and garages. With a condo, on the other hand, you’re only responsible for the interior of your home. Your building, common areas, and surrounding land are usually covered by a homeowners association (HOA).

With that in mind, most insurance policies for condos just offer enough protection to rebuild your unit. And, depending on Your HOA’s insurance, the structures within your condo may already be partially or fully insured. This will reduce the coverage you need to purchase separately if you do need—or want—anything supplemental.

Similarly, liability coverage insurance differs between houses and condos. While you would be responsible if a visitor is injured in your condo, your HOA insurance would take effect if they were hurt in the common areas. However, because the land around a home can include a pool, grill, trampoline, and other items the person directly owns, homeowners are responsible for all injuries that happen on their property, so they need more coverage than condo owners.

Similarities Between Condo & Homeowners Insurance

When it comes to personal property coverage, condo and homeowners insurance have a lot in common. Generally, HOA insurance does not extend to your belongings, which means that property coverage will play a large role in your condo insurance policy. Similarly, property coverage is a supplemental part of most homeowners insurance policies to cover electronics, furniture, jewelry, and other valuables.


Whether you’re buying a home or condo, prepare yourself and your investment with the right insurance coverage. Since 1955, Smith-Altman Insurance has offered competitive rates to residents of Central Kentucky. Based in Campbellsville, this family-owned company is a full-service agency, offering everything from homeowners to boat insurance. To learn more about a plan that fits your needs, call (270) 465-4218 or contact them through their website.