The World Headquarters here at Insurance For Texans is located on Main Street in Colleyville, Texas. It is situated in a mixed use development area where retail, office, and residential spaces are mixed together creating a mini community. We love it. One of the questions that neighbors ask us is whether or not condo insurance is the same thing as home insurance. And the answer is no! We don't have to hesitate on this one or tell you it depends.
Condos are different than stand alone homes or town homes. When you own a condo, you own a portion of a larger building. That building is typically part of some sort of Home Owners Association. One of the HOA's purposes is to provide a master building policy should something happen to it. As a result, the condo owner is only responsible for finishing out the space once the studs have been put in place in the building rebuild, while a true home insurance policy will rebuild the entire structure. The finish out will include things like Dry wall, flooring, cabinets, sinks and other items. You need to make sure that your condo has enough coverage to rebuild the interior portion of your condo and replace your personal property.
If you aren't sure what kind of policy that you have for your home or condo, speaking with an independent insurance agent at Insurance For Texans can help you understand what you have and don't have protected. Schedule a time to speak with Tricia or Dena to review what coverage you do have and any gaps that might exist.