Condominium or Townhome Owners Insurance

If you are in a town home or a condominium home, it is important to know that your homeowners insurance would not cover all the aspects that a single family homeowners insurance does. This is because the property of a town home or a condominium is maintained by a third party.

If you are buying a condominium insurance you would be surprised to know it may not cover any kind of damage to someone else's life or property even if that is done on your premises. Anything outside the walls of the home is basically not covered in a condominium insurance. Damage due to earth quakes or floods or landslides for example are not covered.

It is better to ask the insurance company of what is excluded while buying any kind of an insurance policy. However it becomes all the more important to do so while buying a condominium insurance since many homeowners come to expect the insurance to cover things that are normally covered by single family homeowners insurance but may not realize that the condominium insurances are way different. It is better to know what is not covered at the beginning than to find out the hard way.