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Is Condo Insurance the Same as Home Insurance in Grapevine?

Mission Control for Insurance For Texans is located on Main Street in Colleyville, Texas. In-between a mixed used development of retail, office, and residential living spaces, combining into a bit of small community.

We like to call this home. It feels right for us. And because of the type of residential space we are neighboring, we get questions about whether condo insurance is synonymous to home insurance.

The answer is an emphatic NO. Not "maybe not" or "it depends", but N-O. Period.

Is Condo Insurance The Same As Home Insurance

Condos are not standalone homes or even a town home. Owning a condo means you also have ownership of a part of the larger attached building. With that building, you are also now dealing with a type of Home Owners Association, or HOA. 

This HOA exists primarily to give protection in the form of a master building policy which is in place in the event something causes significant damage to the building.

In this instance, if you own the condo, you would be responsible for the completion of the space upon the studs being put in place during the rebuilding portion of the building. 

This is not usually the case in a home insurance policy which will help you to rebuild the entire structure, including the flooring, drywall, sinks, and cabinets. 

That is why it is important to make sure the policy you have on your condo will allow enough coverage to rebuild the entirety of the condo interior AND replace personal property lost or damaged. 

Don't know what kind of policy you currently have or should have?

Whether a condo or house in Grapevine or Colleyville, by talking with Insurance For Texans, an independent insurance agent, you'll receive peace of mind of knowing what protections will serve you best. 

It's ok for you not to know. However, it's not ok not to do anything about finding out. 

Let's talk today!

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