What is the difference between a condo policy and a homeowner's policy?

What differences should we be aware of going from a condo policy to a home policy? We will be closing on our new house soon and have started shopping for a new homeowners policy. Right now, we have a condo policy with Allstate, but it seems that we need a different type of policy for our new place.

“A condo policy and homeowners policy are very similar when it comes to liability and personal property coverage.
The biggest difference is that the homeowner’s policy covers your entire property, which is quite different from what is considered your property with a condo.
With a condo, you own and are responsible for everything inside and between the studs of the wall. The condo association is responsible for insuring the condo from the studs of the wall outwards to the exterior of the structure and the roof.
In a condo policy, part A of your insurance plan covers real property that is permanently affixed to the interior structure, like:
  • kitchen counters
  • cabinets
  • bathroom fixtures
Part A of your homeowner’s policy covers the same permanent fixtures and the entire structure of the house, including an attached garage or deck.
Part B of your homeowner’s policy will cover Other Structures. These would be structures that are on your property but not attached, like:
  • a fence
  • gazebo
  • unattached garage or carport
The rest of the policy will be pretty similar to what you are used to. Since you already have a condo policy with Allstate, changing to a homeowners policy with them will be easy.
Big life changes are a perfect time to shop around for lower rates for your car insurance as well. With the free Jerry app, you will have the option to bundle the auto and home policies together for maximum savings.”
Shannon Martin
Answered on Jul 26, 2021
Shannon is an expert in personal lines liability insurance with 13 + years of insurance industry experience. She also served as a special insurance liaison to AARP members for 6 of those years. She is a graduate of UL Lafayette and currently resides in NY with her family. Shannon is also an amateur juggler, ukulele player, and is a time travel paradox theory enthusiast.

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