Do I need my own insurance if I pay a homeowners association fee?
I know part of my homeowners association fee goes toward insurance. Does this mean I'm covered, or do I need to buy my own home insurance?
Great question! Yes, you still need to secure and pay for your own homeowners insurance in addition to paying a homeowners association fee. The homeowners insurance will cover your individual residence and liability, while the association’s fee goes toward the shared space in your community. The fee typically covers lawn maintenance, community areas like clubhouses and pools, and the insurance needed for those areas.
Did this answer help you?
Ask us a question by email and we will respond within a few days.
Have a different question?
You can meet us at our office and discuss the details of your question.
Read advice from car experts at Jerry
Browse by topics
What others are asking
Can I bring my own credit report to give to lenders for a car loan?
Can I bring my own credit report to a meeting with a lender so they don't have to pull my credit? I want to buy a house in the near future, and I don't want a hard pull for a car loan to damage my credit right before shopping for a mortgage.
Jul 03, 2021
Why isn't the car insurance claim check issued in just my name?
The claim check I received from my insurance carrier is made out to me and the auto body shop. I want to keep any extra money, not give it to them. Why isn't it just in my name?
Apr 14, 2021
Does Allstate offer international driving coverage in North America?
"I have a car insurance policy through Allstate right now. I'm going on a road trip throughout North America next month and will be driving my own car. Will my policy cover me?"
Jul 30, 2021